Whittier Trust Co. of Nevada Inc. Lowers Holdings in NIKE, Inc. $NKE

Whittier Trust Co. of Nevada Inc. trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 34.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,256 shares of the footwear maker’s stock after selling 18,527 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in NIKE were worth $2,505,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the 1st quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE during the 2nd quarter worth about $26,000. Halbert Hargrove Global Advisors LLC boosted its stake in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE during the 1st quarter worth about $30,000. Finally, Matrix Trust Co boosted its stake in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NKE shares. Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Needham & Company LLC reissued a “buy” rating and set a $78.00 target price on shares of NIKE in a research note on Wednesday, October 1st. BTIG Research started coverage on shares of NIKE in a research note on Tuesday, October 14th. They set a “buy” rating and a $100.00 target price on the stock. UBS Group set a $71.00 target price on shares of NIKE and gave the stock a “neutral” rating in a research note on Friday, September 19th. Finally, Truist Financial reissued a “buy” rating and set a $85.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Trading Up 1.1%

Shares of NIKE stock opened at $68.39 on Wednesday. The firm has a market capitalization of $101.09 billion, a PE ratio of 35.07, a P/E/G ratio of 2.49 and a beta of 1.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The firm’s 50-day moving average price is $72.84 and its 200 day moving average price is $67.56. 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 (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE’s dividend payout ratio is presently 82.05%.

Insider Transactions at NIKE

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

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.