Norris Perne & French LLP MI Has $9.87 Million Position in NIKE, Inc. (NYSE:NKE)

Norris Perne & French LLP MI increased its position in NIKE, Inc. (NYSE:NKE) by 3.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 104,997 shares of the footwear maker’s stock after acquiring an additional 3,122 shares during the quarter. Norris Perne & French LLP MI’s holdings in NIKE were worth $9,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norway Savings Bank increased its stake in shares of NIKE by 2.4% in the first quarter. Norway Savings Bank now owns 15,055 shares of the footwear maker’s stock valued at $1,415,000 after buying an additional 355 shares during the period. Kathmere Capital Management LLC increased its stake in shares of NIKE by 4.2% in the first quarter. Kathmere Capital Management LLC now owns 3,366 shares of the footwear maker’s stock valued at $316,000 after buying an additional 136 shares during the period. Sawyer & Company Inc increased its position in NIKE by 0.7% during the 1st quarter. Sawyer & Company Inc now owns 44,506 shares of the footwear maker’s stock valued at $4,183,000 after purchasing an additional 313 shares during the period. Capital Insight Partners LLC increased its position in NIKE by 7.5% during the 1st quarter. Capital Insight Partners LLC now owns 26,551 shares of the footwear maker’s stock valued at $2,495,000 after purchasing an additional 1,851 shares during the period. Finally, Register Financial Advisors LLC acquired a new stake in NIKE during the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NKE stock traded down $18.82 during mid-day trading on Friday, reaching $75.37. 129,966,982 shares of the company traded hands, compared to its average volume of 9,446,953. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a market capitalization of $113.76 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.79 and a beta of 1.05. NIKE, Inc. has a 52-week low of $74.55 and a 52-week high of $123.39. The company has a fifty day moving average price of $93.28 and a 200-day moving average price of $99.15.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, analysts anticipate that NIKE, Inc. will post 3.9 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity

In other news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NKE. Guggenheim decreased their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday. BMO Capital Markets decreased their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday. The Goldman Sachs Group reduced their price objective on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday. Stifel Nicolaus reaffirmed a “hold” rating and set a $88.00 price objective (down previously from $117.00) on shares of NIKE in a research report on Friday. Finally, Jefferies Financial Group reduced their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.96.

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.