Fragasso Financial Advisors Inc Has $249,000 Position in NIKE, Inc. (NYSE:NKE)

Fragasso Financial Advisors Inc increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,293 shares of the footwear maker’s stock after buying an additional 289 shares during the period. Fragasso Financial Advisors Inc’s holdings in NIKE were worth $249,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Range Financial Group LLC acquired a new position in shares of NIKE during the fourth quarter worth $642,000. Cacti Asset Management LLC acquired a new position in NIKE during the 4th quarter worth about $9,987,000. ING Groep NV bought a new stake in shares of NIKE in the 3rd quarter valued at about $29,628,000. Confluence Investment Management LLC increased its stake in shares of NIKE by 6.3% in the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock valued at $18,621,000 after buying an additional 14,592 shares during the period. Finally, Everence Capital Management Inc. raised its position in shares of NIKE by 128.1% during the fourth quarter. Everence Capital Management Inc. now owns 24,680 shares of the footwear maker’s stock worth $1,868,000 after acquiring an additional 13,860 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

NYSE NKE opened at $72.16 on Tuesday. The company has a fifty day moving average price of $76.19 and a 200-day moving average price of $78.09. The firm has a market cap of $106.73 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts predict that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.22%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

Several analysts recently commented on NKE shares. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. TD Cowen decreased their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Bank of America lowered their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Stifel Nicolaus decreased their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

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.