KMG Fiduciary Partners LLC Acquires 11,257 Shares of NIKE, Inc. (NYSE:NKE)

KMG Fiduciary Partners LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 496.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 13,525 shares of the footwear maker’s stock after acquiring an additional 11,257 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in NIKE were worth $1,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Iron Horse Wealth Management LLC raised its stake in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE in the fourth quarter worth $29,000. True Wealth Design LLC increased its position in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in NIKE during the fourth quarter valued at $33,000. Finally, Core Wealth Advisors Inc. lifted its holdings in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 in the last quarter. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NKE. Barclays cut their price target on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Telsey Advisory Group restated an “outperform” rating and set a $115.00 target price on shares of NIKE in a research report on Friday. StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 price target (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Finally, Stifel Nicolaus reduced their price objective on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.81.

NIKE Stock Performance

NKE opened at $97.10 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock has a market capitalization of $146.56 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 1.80 and a beta of 1.05. The company has a fifty day moving average of $93.60 and a 200 day moving average of $100.02. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.76 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 43.53%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.