Panoramic Capital Partners LLC Has $287,000 Position in NIKE, Inc. (NYSE:NKE)

Panoramic Capital Partners LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 8.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,517 shares of the footwear maker’s stock after selling 409 shares during the quarter. Panoramic Capital Partners LLC’s holdings in NIKE were worth $287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter worth about $28,000. Roxbury Financial LLC purchased a new position in NIKE during the 4th quarter valued at about $30,000. LFA Lugano Financial Advisors SA increased its holdings in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares during the period. Hopwood Financial Services Inc. acquired a new position in shares of NIKE in the 4th quarter valued at about $30,000. Finally, EnRich Financial Partners LLC lifted its position in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NKE shares. Wells Fargo & Company boosted their price objective on shares of NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. China Renaissance started coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a “hold” rating for the company. Bank of America lowered their price target 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. Needham & Company LLC dropped their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Finally, Robert W. Baird cut their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.26.

NIKE Stock Up 0.2%

Shares of NKE stock opened at $62.82 on Monday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04. The stock has a 50 day moving average of $58.86 and a 200-day moving average of $69.15. The firm has a market cap of $92.92 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is 53.16%.

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.