Legacy Trust Has $2.25 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Legacy Trust increased its position in NIKE, Inc. (NYSE:NKE) by 6.6% in the first quarter, Holdings Channel.com reports. The firm owned 35,470 shares of the footwear maker’s stock after acquiring an additional 2,189 shares during the period. Legacy Trust’s holdings in NIKE were worth $2,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockland Trust Co. increased its position in NIKE by 26.7% in the first quarter. Rockland Trust Co. now owns 247,648 shares of the footwear maker’s stock worth $15,721,000 after purchasing an additional 52,134 shares during the period. Compagnie Lombard Odier SCmA increased its position in NIKE by 11.1% in the first quarter. Compagnie Lombard Odier SCmA now owns 90,334 shares of the footwear maker’s stock worth $5,734,000 after purchasing an additional 8,999 shares during the period. Fort Washington Investment Advisors Inc. OH increased its position in NIKE by 4.0% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 373,339 shares of the footwear maker’s stock worth $23,700,000 after purchasing an additional 14,342 shares during the period. Ferguson Wellman Capital Management Inc. increased its position in NIKE by 1,303.7% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 500,961 shares of the footwear maker’s stock worth $31,801,000 after purchasing an additional 465,273 shares during the period. Finally, Tran Capital Management L.P. increased its position in NIKE by 2.7% in the first quarter. Tran Capital Management L.P. now owns 99,802 shares of the footwear maker’s stock worth $6,335,000 after purchasing an additional 2,641 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research reports. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Royal Bank of Canada decreased their target price on NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 20th. Wells Fargo & Company boosted their target price on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Jefferies Financial Group restated a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. Finally, The Goldman Sachs Group decreased 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. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $80.26.

NIKE Trading Down 0.5%

NYSE NKE opened at $62.81 on Friday. The stock has a market capitalization of $92.90 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The stock’s 50 day moving average price is $59.23 and its two-hundred day moving average price is $68.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

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.