NIKE, Inc. (NYSE:NKE) Shares Sold by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 27.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,787 shares of the footwear maker’s stock after selling 6,267 shares during the quarter. Palumbo Wealth Management LLC’s holdings in NIKE were worth $1,270,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter worth $28,000. Caitlin John LLC increased its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the third quarter worth about $30,000. Roxbury Financial LLC purchased a new position in NIKE during the fourth quarter worth about $30,000. Finally, Dunhill Financial LLC boosted its stake in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NKE. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $72.00 in a report on Friday, February 7th. Royal Bank of Canada lowered their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. BMO Capital Markets boosted their price target on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $88.62.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.3 %

NYSE:NKE opened at $73.02 on Friday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $107.34. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $108.00 billion, a PE ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.01. The business’s 50 day moving average is $74.46 and its two-hundred day moving average is $78.00.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

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.