NIKE, Inc. (NYSE:NKE) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,905 shares of the footwear maker’s stock after selling 200 shares during the quarter. Tributary Capital Management LLC’s holdings in NIKE were worth $461,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cim LLC purchased a new position in shares of NIKE in the 4th quarter worth about $14,275,000. TKG Advisors LLC purchased a new position in shares of NIKE in the 4th quarter worth about $1,012,000. Louisiana State Employees Retirement System purchased a new position in shares of NIKE in the 4th quarter worth about $8,034,000. Financial Gravity Asset Management Inc. raised its holdings in shares of NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after purchasing an additional 176,476 shares during the period. Finally, Brown Advisory Inc. raised its holdings in shares of NIKE by 4.3% during the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after buying an additional 192,752 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is currently owned by company insiders.

NIKE Stock Performance

NIKE stock opened at $76.06 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $114.80 billion, a PE ratio of 20.39, a P/E/G ratio of 1.43 and a beta of 1.01. The firm has a fifty day simple moving average of $92.94 and a two-hundred day simple moving average of $98.54. NIKE, Inc. has a twelve month low of $74.29 and a twelve month high of $123.39.

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

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NKE. TD Cowen reduced their price objective on NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Citigroup dropped their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. KeyCorp restated a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Williams Trading reiterated a “sell” rating and issued a $85.00 price objective (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Finally, Raymond James reiterated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $98.04.

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.