Bridges Investment Management Inc. Sells 8,825 Shares of NIKE, Inc. (NYSE:NKE)

Bridges Investment Management Inc. lessened its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,751 shares of the footwear maker's stock after selling 8,825 shares during the quarter. Bridges Investment Management Inc.'s holdings in NIKE were worth $1,825,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NKE. Brighton Jones LLC lifted its holdings in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after buying an additional 17,888 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of NIKE by 6.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,634 shares of the footwear maker's stock valued at $1,637,000 after buying an additional 1,299 shares during the last quarter. Sage Mountain Advisors LLC raised its position in shares of NIKE by 41.3% in the fourth quarter. Sage Mountain Advisors LLC now owns 5,261 shares of the footwear maker's stock valued at $398,000 after buying an additional 1,539 shares during the last quarter. Finally, River Road Asset Management LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $3,160,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NKE. DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research report on Thursday. Citigroup upped their target price on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. The Goldman Sachs Group upped their target price on shares of NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. UBS Group began coverage on shares of NIKE in a research note on Sunday. They set a "buy" rating on the stock. Finally, Argus upgraded shares of NIKE to a "buy" rating in a research note on Sunday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average price target of $77.15.

NIKE Price Performance

Shares of NYSE:NKE traded down $2.07 during trading on Friday, reaching $72.55. 7,184,504 shares of the company traded hands, compared to its average volume of 15,211,829. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The firm has a market capitalization of $107.31 billion, a PE ratio of 33.58, a PEG ratio of 2.66 and a beta of 1.25. The company's 50 day moving average is $63.78 and its two-hundred day moving average is $67.43.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The business's quarterly revenue was down 11.9% on a year-over-year basis. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

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.