NIKE, Inc. (NYSE:NKE) Position Trimmed by Paladin Advisory Group LLC

Paladin Advisory Group LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 13.6% in the 1st quarter, Holdings Channel reports. The firm owned 1,465 shares of the footwear maker’s stock after selling 230 shares during the quarter. Paladin Advisory Group LLC’s holdings in NIKE were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the fourth quarter valued at $28,000. Roxbury Financial LLC acquired a new position in shares of NIKE during the fourth quarter valued at $30,000. LFA Lugano Financial Advisors SA boosted its holdings in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares during the period. Hopwood Financial Services Inc. acquired a new position in shares of NIKE during the fourth quarter valued at $30,000. Finally, EnRich Financial Partners LLC boosted its holdings in shares of NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 273 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reduced their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 17th. China Renaissance assumed coverage on shares of NIKE in a report on Wednesday, March 19th. They set a “hold” rating for the company. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Finally, Cfra Research raised shares of NIKE to a “moderate buy” rating in a report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.26.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan acquired 8,600 shares of the business’s 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 acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $63.15 on Thursday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month 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 $93.41 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.52 and a beta of 1.21. The firm has a 50-day moving average of $59.09 and a two-hundred day moving average of $68.97.

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. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.53%. NIKE’s payout ratio is presently 53.16%.

NIKE Company 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.