Pinnacle Financial Partners Inc. Sells 223 Shares of Nike Inc (NKE)

Pinnacle Financial Partners Inc. lessened its holdings in Nike Inc (NYSE:NKE) by 0.2% during the first quarter, HoldingsChannel.com reports. The firm owned 94,195 shares of the footwear maker’s stock after selling 223 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Nike were worth $7,933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc lifted its position in shares of Nike by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after buying an additional 1,207,986 shares during the period. Meeder Asset Management Inc. increased its holdings in Nike by 70.3% during the 4th quarter. Meeder Asset Management Inc. now owns 1,320 shares of the footwear maker’s stock valued at $98,000 after purchasing an additional 545 shares in the last quarter. First Command Bank increased its holdings in Nike by 238.6% during the 4th quarter. First Command Bank now owns 7,389 shares of the footwear maker’s stock valued at $548,000 after purchasing an additional 5,207 shares in the last quarter. First American Bank increased its holdings in Nike by 2.2% during the 4th quarter. First American Bank now owns 49,480 shares of the footwear maker’s stock valued at $3,668,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Landsberg Bennett & Dubbaneh LLC acquired a new stake in Nike during the 4th quarter valued at $325,000. Institutional investors and hedge funds own 65.94% of the company’s stock.

NYSE NKE opened at $83.64 on Wednesday. The firm has a market capitalization of $132.92 billion, a PE ratio of 34.56, a PEG ratio of 2.54 and a beta of 0.67. Nike Inc has a 52 week low of $66.53 and a 52 week high of $90.00. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39.

Nike (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The company had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Nike had a return on equity of 45.78% and a net margin of 10.79%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. As a group, equities research analysts expect that Nike Inc will post 2.55 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.88 annualized dividend and a dividend yield of 1.05%. Nike’s dividend payout ratio (DPR) is currently 36.36%.

In related news, insider Eric D. Sprunk sold 40,004 shares of Nike stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $87.82, for a total transaction of $3,513,151.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 16,500 shares of Nike stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total value of $1,455,465.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,504 shares of company stock valued at $14,320,816. 3.90% of the stock is owned by insiders.

A number of research firms recently weighed in on NKE. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $90.00 price target on shares of Nike in a report on Friday, April 12th. Citigroup began coverage on Nike in a report on Wednesday, April 10th. They set a “buy” rating and a $100.00 price target for the company. Zacks Investment Research cut Nike from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Macquarie set a $96.00 price target on Nike and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Piper Jaffray Companies set a $93.00 price target on Nike and gave the company a “buy” rating in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $87.10.

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Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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