NIKE, Inc. (NYSE:NKE) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. cut its position in shares of NIKE, Inc. (NYSE:NKE) by 5.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 22,020 shares of the footwear maker’s stock after selling 1,282 shares during the quarter. Palouse Capital Management Inc.’s holdings in NIKE were worth $1,666,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Garrison Point Advisors LLC grew its holdings in shares of NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after acquiring an additional 126 shares during the last quarter. Stephens Consulting LLC grew its holdings in shares of NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares during the last quarter. PSI Advisors LLC grew its holdings in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares during the last quarter. JNBA Financial Advisors grew its holdings in shares of NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after acquiring an additional 131 shares during the last quarter. Finally, Meridian Financial Partners LLC grew its holdings in shares of NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after acquiring an additional 133 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE:NKE opened at $73.02 on Friday. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.34. The business has a 50-day moving average of $74.46 and a two-hundred day moving average of $78.00. The stock has a market capitalization of $108.00 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. NIKE’s payout ratio is presently 49.38%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NKE shares. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $102.00 to $72.00 in a report on Friday, February 7th. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Evercore ISI decreased their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Robert W. Baird lowered their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, Barclays lowered their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $88.62.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

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.