Palisade Capital Management LLC NJ Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Palisade Capital Management LLC NJ decreased its position in shares of NIKE, Inc. (NYSE:NKEGet Rating) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,340 shares of the footwear maker’s stock after selling 430 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in NIKE were worth $4,621,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC raised its stake in shares of NIKE by 3.2% during the 4th quarter. Prestige Wealth Management Group LLC now owns 2,292 shares of the footwear maker’s stock worth $382,000 after acquiring an additional 70 shares in the last quarter. Resources Management Corp CT ADV raised its stake in shares of NIKE by 0.5% during the 4th quarter. Resources Management Corp CT ADV now owns 15,025 shares of the footwear maker’s stock worth $2,504,000 after acquiring an additional 71 shares in the last quarter. Capital Analysts LLC raised its stake in shares of NIKE by 3.2% during the 4th quarter. Capital Analysts LLC now owns 2,353 shares of the footwear maker’s stock worth $392,000 after acquiring an additional 72 shares in the last quarter. Vectors Research Management LLC raised its stake in shares of NIKE by 11.3% during the 4th quarter. Vectors Research Management LLC now owns 708 shares of the footwear maker’s stock worth $118,000 after acquiring an additional 72 shares in the last quarter. Finally, Ninepoint Partners LP raised its stake in shares of NIKE by 2.6% during the 4th quarter. Ninepoint Partners LP now owns 3,076 shares of the footwear maker’s stock worth $513,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 65.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Credit Suisse Group set a $130.00 price objective on shares of NIKE in a research note on Wednesday, June 29th. Citigroup reduced their price objective on shares of NIKE from $123.00 to $116.00 and set a “neutral” rating for the company in a research note on Tuesday, June 28th. KGI Securities downgraded shares of NIKE from an “outperform” rating to a “neutral” rating in a research report on Monday, May 23rd. Stifel Nicolaus dropped their target price on shares of NIKE from $135.00 to $130.00 in a research report on Wednesday, July 20th. Finally, Seaport Res Ptn downgraded shares of NIKE from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 22nd. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.08.

NIKE Stock Performance

NKE opened at $113.87 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. The firm has a fifty day moving average price of $110.34 and a 200 day moving average price of $123.47. NIKE, Inc. has a 1 year low of $99.53 and a 1 year high of $179.10. The stock has a market cap of $178.61 billion, a P/E ratio of 30.28, a P/E/G ratio of 2.40 and a beta of 1.02.

NIKE (NYSE:NKEGet Rating) last posted its earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.09. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $12.10 billion. During the same period in the previous year, the business posted $0.93 EPS. The business’s revenue was down .8% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 3.82 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, September 2nd. NIKE’s dividend payout ratio is presently 32.45%.

NIKE announced that its Board of Directors has approved a share buyback plan on Monday, June 27th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the footwear maker to repurchase up to 11% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other NIKE news, EVP Monique S. Matheson sold 19,500 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the completion of the transaction, the executive vice president now directly owns 80,355 shares in the company, valued at $8,312,724.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Monique S. Matheson sold 30,000 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $107.19, for a total value of $3,215,700.00. Following the completion of the sale, the executive vice president now directly owns 60,330 shares in the company, valued at $6,466,772.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Monique S. Matheson sold 19,500 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the completion of the sale, the executive vice president now owns 80,355 shares of the company’s stock, valued at $8,312,724.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,796 shares of company stock worth $9,085,334. Company insiders own 0.40% of the company’s stock.

NIKE Profile

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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