Nike Inc (NYSE:NKE) Stake Boosted by Pinnacle Financial Partners Inc.
Pinnacle Financial Partners Inc. raised its position in shares of Nike Inc (NYSE:NKE) by 225.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,506 shares of the footwear maker’s stock after buying an additional 41,204 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Nike were worth $3,085,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Nike by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock worth $5,876,718,000 after purchasing an additional 2,452,993 shares during the period. Capital Research Global Investors lifted its position in Nike by 10.4% during the 2nd quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock valued at $1,423,988,000 after acquiring an additional 2,274,869 shares during the period. Capital World Investors lifted its position in Nike by 58.7% during the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after acquiring an additional 8,058,601 shares during the period. Northern Trust Corp lifted its position in Nike by 6.7% during the 2nd quarter. Northern Trust Corp now owns 21,502,892 shares of the footwear maker’s stock valued at $1,268,671,000 after acquiring an additional 1,344,638 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Nike by 4,252.6% during the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after acquiring an additional 16,237,557 shares during the period. 62.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Nike Inc (NYSE:NKE) opened at $67.58 on Tuesday. Nike Inc has a 1 year low of $50.35 and a 1 year high of $68.64. The firm has a market cap of $110,260.00, a price-to-earnings ratio of 29.26, a P/E/G ratio of 3.08 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s payout ratio is currently 34.63%.
NKE has been the subject of a number of recent research reports. Goldman Sachs Group cut shares of Nike from a “buy” rating to a “neutral” rating and lifted their price target for the company from $52.30 to $54.00 in a research report on Thursday, October 19th. Vetr upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $58.95 price objective for the company in a research note on Monday, October 30th. Robert W. Baird reiterated a “buy” rating on shares of Nike in a research note on Friday, October 13th. Argus upgraded shares of Nike from a “hold” rating to a “buy” rating and lifted their price target for the stock from $50.35 to $64.46 in a research note on Thursday, December 14th. Finally, Forward View upgraded shares of Nike from a “sell” rating to a “hold” rating in a research note on Sunday, October 29th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $64.94.
In other news, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the transaction, the executive vice president now directly owns 23,248 shares in the company, valued at $1,441,376. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the transaction, the insider now owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock worth $60,257,267 in the last quarter. Company insiders own 3.90% of the company’s stock.
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Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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