NIKE, Inc. $NKE Shares Sold by Private Trust Co. NA

Private Trust Co. NA lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 31.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,332 shares of the footwear maker’s stock after selling 4,668 shares during the quarter. Private Trust Co. NA’s holdings in NIKE were worth $734,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Mascoma Wealth Management LLC acquired a new position in shares of NIKE during the second quarter valued at about $26,000. Stone House Investment Management LLC acquired a new position in shares of NIKE during the first quarter valued at about $25,000. Halbert Hargrove Global Advisors LLC increased its holdings in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares in the last quarter. Matrix Trust Co increased its holdings in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. Finally, Saudi Central Bank acquired a new position in shares of NIKE during the first quarter valued at about $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.9%

NIKE stock opened at $67.46 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $83.95. The stock’s 50 day simple moving average is $73.10 and its two-hundred day simple moving average is $67.40. The firm has a market cap of $99.72 billion, a PE ratio of 34.59, a P/E/G ratio of 2.48 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. NIKE’s dividend payout ratio is currently 82.05%.

Analyst Ratings Changes

NKE has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Morgan Stanley set a $72.00 target price on NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Finally, Robert W. Baird upped their target price on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

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.