NIKE, Inc. (NYSE:NKE) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,129 shares of the footwear maker's stock after selling 5,845 shares during the period. L. Roy Papp & Associates LLP's holdings in NIKE were worth $3,246,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Caitlin John LLC raised its position in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in NIKE during the fourth quarter worth $28,000. Roxbury Financial LLC acquired a new position in shares of NIKE in the fourth quarter worth $30,000. LFA Lugano Financial Advisors SA lifted its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of NIKE during the fourth quarter valued at $30,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on NKE. Morgan Stanley dropped their price objective on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Stifel Nicolaus cut their price objective on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. BMO Capital Markets reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Finally, Bank of America cut their price target on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 25th. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.26.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

NIKE Stock Up 0.2%

NIKE stock traded up $0.15 during trading on Friday, reaching $62.82. 13,290,375 shares of the company's stock were exchanged, compared to its average volume of 15,062,328. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The firm has a market cap of $92.92 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company's 50-day moving average is $58.90 and its two-hundred day moving average is $69.30.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. NIKE's payout ratio is currently 53.16%.

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.