Norris Perne & French LLP MI Decreases Position in NIKE, Inc. (NYSE:NKE)

Norris Perne & French LLP MI decreased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 84.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,578 shares of the footwear maker's stock after selling 86,718 shares during the quarter. Norris Perne & French LLP MI's holdings in NIKE were worth $989,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after acquiring an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in NIKE by 10.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after purchasing an additional 17,888 shares during the period. Allworth Financial LP lifted its stake in NIKE by 96.8% in the fourth quarter. Allworth Financial LP now owns 24,458 shares of the footwear maker's stock worth $1,811,000 after purchasing an additional 12,027 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of NIKE by 355.6% during the fourth quarter. Venturi Wealth Management LLC now owns 7,263 shares of the footwear maker's stock valued at $550,000 after buying an additional 5,669 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new position in shares of NIKE during the fourth quarter valued at approximately $43,000. Institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. Telsey Advisory Group reissued a "market perform" rating and set a $70.00 price target on shares of NIKE in a research note on Tuesday. China Renaissance assumed coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating for the company. Wells Fargo & Company boosted their target price on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Morgan Stanley reduced their price target on shares of NIKE from $70.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, Williams Trading decreased their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $79.15.

NIKE Price Performance

NYSE NKE opened at $59.47 on Thursday. The firm's fifty day simple moving average is $59.57 and its two-hundred day simple moving average is $68.36. The firm has a market capitalization of $87.96 billion, a P/E ratio of 19.76, a P/E/G ratio of 2.11 and a beta of 1.21. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced 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. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.69%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired 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 owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Company Profile

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.

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