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

Palouse Capital Management Inc. bought a new stake in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, Holdings Channel reports. The fund bought 23,302 shares of the footwear maker’s stock, valued at approximately $2,060,000.

Several other large investors have also recently made changes to their positions in NKE. Northwest Investment Counselors LLC boosted its holdings in NIKE by 3.5% in the third quarter. Northwest Investment Counselors LLC now owns 42,795 shares of the footwear maker’s stock worth $3,783,000 after acquiring an additional 1,455 shares in the last quarter. Crew Capital Management Ltd. raised its holdings in NIKE by 29.8% in the third quarter. Crew Capital Management Ltd. now owns 10,699 shares of the footwear maker’s stock worth $946,000 after buying an additional 2,454 shares during the last quarter. Bellecapital International Ltd. bought a new position in shares of NIKE in the third quarter worth approximately $220,000. Arlington Partners LLC raised its holdings in NIKE by 39.5% in the 3rd quarter. Arlington Partners LLC now owns 49,185 shares of the footwear maker’s stock worth $4,348,000 after acquiring an additional 13,927 shares during the last quarter. Finally, Penn Davis Mcfarland Inc. bought a new position in NIKE in the 3rd quarter valued at approximately $5,483,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NKE. Evercore ISI decreased their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Bank of America lowered their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley lifted their target price on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Barclays lowered their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on 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 sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by insiders.

NIKE Price Performance

Shares of NYSE:NKE traded down $1.31 during midday trading on Monday, reaching $81.61. 3,817,455 shares of the company were exchanged, compared to its average volume of 11,662,694. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market cap of $123.18 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The business’s fifty day moving average is $82.64 and its two-hundred day moving average is $85.24. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.81%. NIKE’s dividend payout ratio is currently 39.68%.

NIKE 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.