Private Trust Co. NA Trims Position in NIKE, Inc. (NYSE:NKE)

Private Trust Co. NA cut its position in NIKE, Inc. (NYSE:NKE) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,382 shares of the footwear maker’s stock after selling 731 shares during the period. Private Trust Co. NA’s holdings in NIKE were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Pacer Advisors Inc. increased its stake in shares of NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after purchasing an additional 6,709,985 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in shares of NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after acquiring an additional 2,357,745 shares during the last quarter. Finally, State Street Corp boosted its position in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NIKE stock opened at $79.43 on Friday. The firm has a market capitalization of $117.49 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $105.57. The firm has a 50-day moving average price of $74.64 and a 200-day moving average price of $78.32. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NKE. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. UBS Group restated a “neutral” rating and set a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. BMO Capital Markets upped their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on 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 transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by 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.