NIKE, Inc. (NYSE:NKE) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 23.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,695 shares of the footwear maker’s stock after selling 1,160 shares during the quarter. Douglas Lane & Associates LLC’s holdings in NIKE were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Addenda Capital Inc. boosted its position in NIKE by 12.5% during the 1st quarter. Addenda Capital Inc. now owns 192,982 shares of the footwear maker’s stock worth $12,313,000 after acquiring an additional 21,475 shares during the period. American National Bank & Trust boosted its position in NIKE by 668.9% during the 1st quarter. American National Bank & Trust now owns 5,751 shares of the footwear maker’s stock worth $365,000 after acquiring an additional 5,003 shares during the period. Iowa State Bank boosted its position in NIKE by 2.3% during the 1st quarter. Iowa State Bank now owns 32,071 shares of the footwear maker’s stock worth $2,036,000 after acquiring an additional 722 shares during the period. Advance Capital Management Inc. boosted its position in NIKE by 21.2% during the 1st quarter. Advance Capital Management Inc. now owns 3,424 shares of the footwear maker’s stock worth $217,000 after acquiring an additional 600 shares during the period. Finally, Czech National Bank boosted its position in NIKE by 5.1% during the 1st quarter. Czech National Bank now owns 271,294 shares of the footwear maker’s stock worth $17,222,000 after acquiring an additional 13,148 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $60.52 on Monday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $89.52 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.52 and a beta of 1.23. The stock’s fifty day simple moving average is $59.08 and its 200-day simple moving average is $69.58.

NIKE (NYSE:NKE) last issued its quarterly earnings results 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 return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid 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 2.64%. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Williams Trading reduced their price target on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Citigroup reduced their price target on NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. dropped their price objective on NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. The Goldman Sachs Group dropped their price objective on NIKE from $88.00 to $72.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, BMO Capital Markets dropped their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.26.

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.