NIKE, Inc. (NYSE:NKE) Shares Purchased by Norris Perne & French LLP MI

Norris Perne & French LLP MI raised its position in shares of NIKE, Inc. (NYSE:NKE) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,997 shares of the footwear maker’s stock after purchasing an additional 3,122 shares during the period. Norris Perne & French LLP MI’s holdings in NIKE were worth $9,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Capital International Investors lifted its stake in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Norges Bank acquired a new stake in shares of NIKE in the 4th quarter worth approximately $1,315,097,000. Fisher Asset Management LLC lifted its stake in shares of NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after acquiring an additional 219,091 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of NIKE by 18.3% in the 3rd quarter. American Century Companies Inc. now owns 5,620,466 shares of the footwear maker’s stock worth $537,429,000 after acquiring an additional 870,423 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 20.0 %

Shares of NKE traded down $18.82 during mid-day trading on Friday, hitting $75.37. 129,966,982 shares of the company’s stock were exchanged, compared to its average volume of 9,446,953. The firm has a fifty day moving average of $93.28 and a two-hundred day moving average of $99.15. NIKE, Inc. has a twelve month low of $74.55 and a twelve month high of $123.39. The stock has a market cap of $113.76 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 1.79 and a beta of 1.05. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.87%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the business posted $0.66 EPS. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts forecast that NIKE, Inc. will post 3.9 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.96%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Transactions at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock worth $19,946,333 in the last 90 days. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday. Barclays downgraded shares of NIKE from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $109.00 to $80.00 in a report on Friday. Jefferies Financial Group dropped their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Guggenheim dropped their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday. Finally, BMO Capital Markets dropped their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of “Hold” and an average price target of $98.96.

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.