Moody’s National Bank Trust Division reduced its holdings of NIKE, Inc. (NYSE: NKE – Get Rating) stock by 3.2% during the first quarter, according to the company in its most recent SEC filing. The institutional investor held 3,038 shares of the shoemaker after selling 100 shares during the period. Moody’s National Bank Trust Division holdings in NIKE were worth $409,000 when it last filed with the SEC.
Other hedge funds and other institutional investors have also increased or reduced their stakes in the company. Aquire Wealth Advisors LLC bought a new position in NIKE stock during the fourth quarter worth approximately $26,000. Retirement Planning Co of New England Inc. bought a new position in NIKE stock during the fourth quarter, valued at around $26,000. Horan Securities Inc. bought a new position in NIKE stock during the fourth quarter worth approximately $29,000. Sycomore Asset Management bought a new position in NIKE stock during the fourth quarter worth approximately $31,000. Finally, Alpha Paradigm Partners LLC bought a new position in NIKE stock during the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors hold 65.35% of the company’s shares.
NKE stock opened at $108.00 on Friday. The company has a market capitalization of $169.97 billion, a PE ratio of 28.50, a P/E/G ratio of 1.74 and a beta of 0.96. The company has a debt ratio of 0.64, a quick ratio of 2.18 and a current ratio of 3.06. The company’s fifty-day moving average is $117.21 and its 200-day moving average is $135.06. NIKE, Inc. has a 1-year low of $103.46 and a 1-year high of $179.10.
NIKE (NYSE:NKE – Get Rating) last released its quarterly results on Monday, March 21. The shoemaker reported EPS of $0.87 for the quarter, beating the consensus estimate of $0.73 by $0.14. NIKE had a net margin of 13.06% and a return on equity of 43.04%. The company posted revenue of $10.90 billion for the quarter, versus analyst estimates of $10.61 billion. In the same quarter last year, the company earned earnings per share of $0.90. The company’s revenue increased 4.8% year over year. Research analysts predict that NIKE, Inc. will post earnings per share of 3.68 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Monday, June 6 will receive a dividend of $0.305. The ex-dividend date is Friday, June 3. This represents an annualized dividend of $1.22 and a dividend yield of 1.13%. NIKE’s dividend payout ratio (DPR) is 32.19%.
A number of equity research analysts have recently commented on the stock. StockNews.com took over NIKE stock coverage in a research report on Thursday, March 31. They set a “holding” rating for the company. KGI Securities downgraded NIKE shares from an “outperform” rating to a “neutral” rating in a Monday, May 23 research report. Cowen lowered his target price on NIKE shares from $139.00 to $133.00 in a research report on Thursday. Wells Fargo & Company cut its price target on NIKE shares from $165.00 to $150.00 and set an “equal weight” rating for the company in a Wednesday, June 1 research report. Finally, JPMorgan Chase & Co. set a target price of $132.00 on NIKE shares in a research report on Thursday. One analyst rated the stock with a sell rating, eight gave the stock a hold rating, and twenty-three gave the stock a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.85.
Separately, chief financial officer Matthew Friend sold 9,032 shares of the company in a transaction dated Monday, June 13. The shares were sold at an average price of $110.52, for a total value of $998,216.64. Following the transaction, the CFO now directly owns 51,581 shares of the company, valued at $5,700,732.12. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, COO Andrew Campion sold 14,203 shares of the company in a trade dated Friday, June 3. The stock was sold at an average price of $120.61, for a total transaction of $1,713,023.83. Following completion of the transaction, the COO now directly owns 73,795 shares of the company, valued at $8,900,414.95. The disclosure of this sale can be found here. 3.70% of the shares are held by insiders of the company.
NIKE Company Profile (Get a rating)
NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories worldwide. The company offers NIKE-branded products in six categories, including running, NIKE basketball, Jordan brand, football, training and sportswear. It also markets products designed for children, as well as other sports and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball- ball, walking, wrestling and other outdoor activities; and apparel with licensed college and pro team and league logos, as well as athletic apparel.
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