NIKE, Inc. (NYSE:NKE) Holdings Decreased by WASHINGTON TRUST Co

WASHINGTON TRUST Co trimmed its position in NIKE, Inc. (NYSE:NKE) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,153 shares of the footwear maker’s stock after selling 1,271 shares during the quarter. WASHINGTON TRUST Co’s holdings in NIKE were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in NKE. State Street Corp grew its stake in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP grew its stake in NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after buying an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC grew its stake in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after buying an additional 251,411 shares during the last quarter. Fisher Asset Management LLC grew its stake in NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in NIKE by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after buying an additional 117,187 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock opened at $73.02 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.34. The stock’s 50-day moving average is $74.46 and its two-hundred day moving average is $78.00. The firm has a market cap of $108.00 billion, a P/E ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the firm posted $1.03 EPS. The business’s revenue was down 7.7% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. TD Cowen decreased their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. UBS Group restated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a report on Thursday, December 26th. Finally, JPMorgan Chase & Co. cut their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $88.62.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% 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.