NIKE, Inc. (NYSE:NKE) Stake Lifted by Palisade Asset Management LLC

Palisade Asset Management LLC grew its position in shares of NIKE, Inc. (NYSE:NKE) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 42,437 shares of the footwear maker’s stock after purchasing an additional 579 shares during the quarter. Palisade Asset Management LLC’s holdings in NIKE were worth $4,607,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Newport Trust Company LLC bought a new stake in shares of NIKE during the 3rd quarter worth $679,775,000. Flossbach Von Storch AG grew its holdings in shares of NIKE by 433.5% during the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after buying an additional 3,354,677 shares in the last quarter. Van ECK Associates Corp grew its stake in NIKE by 117.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock valued at $285,564,000 after acquiring an additional 1,610,273 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of NIKE by 37.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock valued at $553,786,000 after purchasing an additional 1,583,541 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in NIKE during the third quarter valued at approximately $97,724,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

Shares of NYSE:NKE traded down $0.19 on Wednesday, hitting $93.59. The stock had a trading volume of 4,477,221 shares, compared to its average volume of 9,155,568. The firm’s 50 day moving average price is $95.28 and its 200-day moving average price is $102.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $126.46. The company has a market capitalization of $141.26 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, equities research analysts predict that NIKE, Inc. will post 3.73 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. Investors 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 yield of 1.58%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NKE shares. TheStreet downgraded NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 target price (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. HSBC decreased their price target on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Jefferies Financial Group cut their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, UBS Group lowered their price target on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $116.26.

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.