Park Place Capital Corp Sells 974 Shares of NIKE, Inc. (NYSE:NKE)

Park Place Capital Corp cut its stake in NIKE, Inc. (NYSE:NKE) by 21.6% in the first quarter, Holdings Channel reports. The institutional investor owned 3,541 shares of the footwear maker’s stock after selling 974 shares during the period. Park Place Capital Corp’s holdings in NIKE were worth $333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of NIKE during the 4th quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD boosted its position in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares during the period. Capital International Investors grew its stake in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of NIKE by 13,094.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock worth $169,722,000 after buying an additional 1,551,405 shares during the period. Finally, GUARDCAP ASSET MANAGEMENT Ltd lifted its stake in shares of NIKE by 25.5% during the 4th quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 4,714,494 shares of the footwear maker’s stock worth $511,853,000 after acquiring an additional 957,612 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE 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 transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Williams Trading reissued a “sell” rating and set a $85.00 target price (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Oppenheimer restated an “outperform” rating and issued a $120.00 target price on shares of NIKE in a research note on Friday. Evercore ISI decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday. UBS Group reissued a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a research note on Friday. Finally, Wedbush decreased their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Hold” and a consensus target price of $98.96.

NIKE Stock Up 1.9 %

Shares of NYSE:NKE opened at $76.83 on Tuesday. NIKE, Inc. has a 12-month low of $74.29 and a 12-month high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a market cap of $115.96 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company has a fifty day simple moving average of $93.28 and a 200 day simple moving average of $98.85.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 EPS. On average, equities research analysts anticipate that NIKE, Inc. will post 3.9 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.93%. NIKE’s payout ratio is 39.68%.

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.