Arlington Trust Co LLC Sells 1,575 Shares of NIKE, Inc. (NYSE:NKE)

Arlington Trust Co LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,375 shares of the footwear maker’s stock after selling 1,575 shares during the period. Arlington Trust Co LLC’s holdings in NIKE were worth $556,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Beta Wealth Group Inc. increased its holdings in NIKE by 2.3% in the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock worth $489,000 after buying an additional 101 shares in the last quarter. Kampmann Melissa S. grew its stake in shares of NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after purchasing an additional 115 shares during the period. Ascent Wealth Partners LLC grew its stake in shares of NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after purchasing an additional 115 shares during the period. Condor Capital Management grew its stake in shares of NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares during the period. Finally, Bell Investment Advisors Inc grew its stake in shares of NIKE by 4.7% during the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 118 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Truist Financial lowered their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. HSBC reduced their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Morgan Stanley reissued an “equal weight” rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. Wedbush cut their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $83.00 price objective (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.59.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

NIKE Stock Performance

NYSE NKE opened at $80.63 on Friday. The company has a market cap of $121.70 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The stock’s 50 day simple moving average is $76.94 and its 200-day simple moving average is $88.68. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the business posted $0.66 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. NIKE’s payout ratio is 39.68%.

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.