WASHINGTON TRUST Co Has $524,000 Stock Position in NIKE, Inc. $NKE

WASHINGTON TRUST Co cut its position in NIKE, Inc. (NYSE:NKE) by 9.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,381 shares of the footwear maker’s stock after selling 811 shares during the period. WASHINGTON TRUST Co’s holdings in NIKE were worth $524,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. CWM LLC lifted its position in NIKE by 127.1% during the 1st quarter. CWM LLC now owns 86,828 shares of the footwear maker’s stock worth $5,512,000 after buying an additional 48,598 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in NIKE by 4.4% during the 1st quarter. Bleakley Financial Group LLC now owns 12,150 shares of the footwear maker’s stock worth $771,000 after acquiring an additional 511 shares during the last quarter. Edgestream Partners L.P. increased its position in NIKE by 276.1% in the 1st quarter. Edgestream Partners L.P. now owns 27,649 shares of the footwear maker’s stock valued at $1,755,000 after acquiring an additional 20,298 shares in the last quarter. Finally, Sigma Planning Corp raised its stake in shares of NIKE by 9.6% in the first quarter. Sigma Planning Corp now owns 17,297 shares of the footwear maker’s stock worth $1,098,000 after acquiring an additional 1,515 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on NKE. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 price objective on shares of NIKE in a report on Wednesday, October 1st. UBS Group set a $71.00 target price on NIKE and gave the company a “neutral” rating in a research note on Friday, September 19th. Truist Financial reaffirmed a “buy” rating and set a $85.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. raised their price target on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $82.72.

NIKE Trading Up 2.9%

NYSE NKE opened at $66.08 on Friday. The stock has a 50-day simple moving average of $68.69 and a 200 day simple moving average of $68.61. The company has a market capitalization of $97.68 billion, a PE ratio of 33.89, a P/E/G ratio of 2.41 and a beta of 1.29. 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 $82.44.

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

Insider Buying and Selling at NIKE

In other NIKE news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the purchase, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company 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.