23,302 Shares in NIKE, Inc. (NYSE:NKE) Acquired by Palouse Capital Management Inc.

Palouse Capital Management Inc. acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,302 shares of the footwear maker’s stock, valued at approximately $2,060,000.

A number of other large investors have also bought and sold shares of the company. Ascent Wealth Partners LLC raised its stake in NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after acquiring an additional 115 shares during the period. Condor Capital Management lifted its stake in shares of NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after buying an additional 116 shares in the last quarter. Lodestone Wealth Management LLC boosted its holdings in NIKE by 5.5% in the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after buying an additional 118 shares during the period. Nvwm LLC boosted its holdings in NIKE by 1.0% in the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock worth $1,091,000 after buying an additional 120 shares during the period. Finally, Stephens Consulting LLC raised its holdings in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price target for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Barclays lowered their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets reduced their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Trading Down 1.6 %

NIKE stock traded down $1.31 during trading hours on Monday, reaching $81.61. The stock had a trading volume of 3,817,455 shares, compared to its average volume of 11,662,694. The stock has a market cap of $123.18 billion, a PE ratio of 22.08, a PEG ratio of 1.96 and a beta of 1.02. The company has a fifty day simple moving average of $82.64 and a 200-day simple moving average of $85.24. 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 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. Analysts forecast that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.81%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% 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.