Palouse Capital Management Inc. Purchases 541 Shares of NIKE, Inc. (NYSE:NKE)

Palouse Capital Management Inc. raised its position in shares of NIKE, Inc. (NYSE:NKEFree Report) by 2.5% in the first quarter, Holdings Channel reports. The firm owned 22,561 shares of the footwear maker’s stock after acquiring an additional 541 shares during the quarter. Palouse Capital Management Inc.’s holdings in NIKE were worth $1,432,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC increased its stake in NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC increased its stake in NIKE by 40.9% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock valued at $23,458,000 after purchasing an additional 90,000 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock worth $460,160,000 after acquiring an additional 463,470 shares during the period. Markel Group Inc. grew its stake in shares of NIKE by 0.8% in the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker’s stock worth $32,720,000 after acquiring an additional 3,500 shares during the period. Finally, Evergreen Capital Management LLC grew its stake in shares of NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock worth $18,042,000 after acquiring an additional 7,536 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NKE shares. UBS Group reduced their price target on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Royal Bank of Canada dropped their price objective on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 20th. BMO Capital Markets dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Bank of America dropped their price objective on shares of NIKE from $90.00 to $80.00 and set a “buy” rating on the stock 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 issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.26.

Get Our Latest Stock Report on NIKE

Insiders Place Their Bets

In related news, Director Robert Holmes Swan bought 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

NIKE Stock Down 3.8%

Shares of NIKE stock opened at $60.44 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The company has a 50 day moving average of $59.38 and a 200 day moving average of $68.73. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $89.40 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKEGet Free Report) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the firm posted $0.98 EPS. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. NIKE’s dividend payout ratio (DPR) is 53.16%.

NIKE Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKEFree Report).

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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