Perigon Wealth Management LLC Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Perigon Wealth Management LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 55,992 shares of the footwear maker’s stock after selling 430 shares during the period. Perigon Wealth Management LLC’s holdings in NIKE were worth $3,554,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after buying an additional 347,178 shares in the last quarter. Capital World Investors grew its stake in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock valued at $1,857,389,000 after buying an additional 2,288,627 shares in the last quarter. Norges Bank purchased a new stake in shares of NIKE in the 4th quarter valued at $1,126,288,000. Finally, Northern Trust Corp lifted its stake in NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker’s stock worth $1,111,625,000 after acquiring an additional 1,183,641 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE NKE opened at $62.71 on Friday. The company has a fifty day moving average of $60.31 and a two-hundred day moving average of $67.63. The company has a market capitalization of $92.75 billion, a PE ratio of 20.83, a P/E/G ratio of 2.23 and a beta of 1.21. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $94.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is currently 53.16%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their target price on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Williams Trading cut their target price on shares of NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Bank of America reduced their target price on shares of NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Royal Bank Of Canada dropped their price target on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. Sixteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.59.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.