Tributary Capital Management LLC Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Tributary Capital Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,905 shares of the footwear maker’s stock after selling 200 shares during the period. Tributary Capital Management LLC’s holdings in NIKE were worth $461,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NKE. Norges Bank acquired a new stake in shares of NIKE during the fourth quarter worth $1,315,097,000. Price T Rowe Associates Inc. MD lifted its holdings in NIKE by 87.5% in 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 acquiring an additional 7,996,434 shares during the period. Capital International Investors lifted its holdings in NIKE by 34.9% in 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 acquiring an additional 7,143,775 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in 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 valued at $169,722,000 after acquiring an additional 1,551,405 shares during the period. Finally, GUARDCAP ASSET MANAGEMENT Ltd raised 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 buying an additional 957,612 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. Sanford C. Bernstein decreased their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Williams Trading reiterated a “sell” rating and issued a $85.00 price objective (down from $92.00) on shares of NIKE in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Hold” and a consensus price target of $98.04.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred 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 owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. In the last quarter, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by corporate insiders.

NIKE Stock Down 1.0 %

NKE opened at $76.06 on Wednesday. The firm has a 50 day moving average price of $92.94 and a 200 day moving average price of $98.54. The company has a market cap of $114.80 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. NIKE, Inc. has a 1 year low of $74.29 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. Sell-side analysts expect that NIKE, Inc. will post 3.47 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.