20,946 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Perennial Advisors LLC

Perennial Advisors LLC acquired a new position in NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,946 shares of the footwear maker’s stock, valued at approximately $1,585,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitlin John LLC increased its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the fourth quarter worth approximately $28,000. Roxbury Financial LLC purchased a new position in shares of NIKE during the fourth quarter worth approximately $30,000. LFA Lugano Financial Advisors SA increased its position 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 worth $30,000 after acquiring an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new position in shares of NIKE during the fourth quarter worth approximately $30,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

NIKE Trading Down 2.1%

NYSE NKE opened at $60.02 on Friday. The company has a market capitalization of $88.78 billion, a PE ratio of 18.52, a P/E/G ratio of 2.52 and a beta of 1.23. The company has a fifty day moving average of $59.88 and a 200 day moving average of $70.15. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) 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%. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. NIKE’s dividend payout ratio is presently 53.16%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NKE. BMO Capital Markets reduced their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Williams Trading cut their price objective on shares of NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Needham & Company LLC cut their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Telsey Advisory Group cut their price objective on shares of NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a report on Tuesday, May 6th. Finally, Citigroup cut their price objective on shares of NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price 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.