Whittier Trust Co. Sells 8,992 Shares of NIKE, Inc. $NKE

Whittier Trust Co. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 13.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,377 shares of the footwear maker’s stock after selling 8,992 shares during the quarter. Whittier Trust Co.’s holdings in NIKE were worth $4,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spire Wealth Management raised its holdings in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after acquiring an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after acquiring an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new stake in NIKE during the 1st quarter valued at $25,963,000. BROOKFIELD Corp ON raised its holdings in NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after acquiring an additional 175,000 shares during the period. Finally, Cadence Bank raised its holdings in NIKE by 10.0% during the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after acquiring an additional 7,574 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NKE. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Friday, June 27th. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Evercore ISI decreased their price target on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, June 24th. Stifel Nicolaus set a $68.00 price target on shares of NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. Finally, BTIG Research initiated coverage on shares of NIKE in a report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price target on the stock. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Trading Up 1.1%

NIKE stock opened at $68.39 on Wednesday. The stock has a market cap of $101.09 billion, a P/E ratio of 35.07, a PEG ratio of 2.49 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The firm’s fifty day moving average price is $72.84 and its 200-day moving average price is $67.56. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE’s payout ratio is 82.05%.

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.