Palouse Capital Management Inc. Sells 1,282 Shares of NIKE, Inc. (NYSE:NKE)

Palouse Capital Management Inc. trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,020 shares of the footwear maker’s stock after selling 1,282 shares during the period. Palouse Capital Management Inc.’s holdings in NIKE were worth $1,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC increased its stake in NIKE by 11.1% during the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after acquiring an additional 150 shares during the period. JNBA Financial Advisors boosted 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 in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of NIKE in the 4th quarter worth approximately $4,342,000. Allworth Financial LP boosted its holdings in shares of NIKE by 96.8% in the 4th quarter. Allworth Financial LP now owns 24,458 shares of the footwear maker’s stock worth $1,811,000 after acquiring an additional 12,027 shares in the last quarter. Finally, TigerOak Management L.L.C. acquired a new position in NIKE during the 4th quarter worth $495,000. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NKE shares. UBS Group reissued a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Barclays reduced their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Stifel Nicolaus cut their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 target price on shares of NIKE in a report on Thursday, February 6th. Finally, TD Cowen lowered their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.62.

NIKE Trading Down 0.3 %

Shares of NYSE NKE opened at $73.02 on Friday. The business’s 50 day moving average price is $74.46 and its 200-day moving average price is $78.00. The company has a market cap of $108.00 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.34. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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

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.