Hemenway Trust Co LLC Has $3.58 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Hemenway Trust Co LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 69.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,513 shares of the footwear maker’s stock after selling 110,191 shares during the period. Hemenway Trust Co LLC’s holdings in NIKE were worth $3,581,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of NKE. Farmers & Merchants Investments Inc. increased its stake in shares of NIKE by 2.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 134,093 shares of the footwear maker’s stock valued at $10,107,000 after buying an additional 3,643 shares during the period. Arizona State Retirement System boosted its holdings in NIKE by 0.5% in the second quarter. Arizona State Retirement System now owns 351,211 shares of the footwear maker’s stock valued at $26,471,000 after acquiring an additional 1,908 shares during the last quarter. Victory Capital Management Inc. increased its position in NIKE by 11.1% during the 2nd quarter. Victory Capital Management Inc. now owns 711,351 shares of the footwear maker’s stock valued at $53,615,000 after purchasing an additional 70,903 shares during the period. VELA Investment Management LLC raised its holdings in NIKE by 372.5% during the 2nd quarter. VELA Investment Management LLC now owns 16,708 shares of the footwear maker’s stock worth $1,259,000 after purchasing an additional 13,172 shares during the last quarter. Finally, Hendershot Investments Inc. raised its holdings in NIKE by 1.0% during the 2nd quarter. Hendershot Investments Inc. now owns 86,340 shares of the footwear maker’s stock worth $6,507,000 after purchasing an additional 849 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on 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 completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 completion of 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 filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

NKE traded up $0.11 during trading on Friday, reaching $80.94. 1,413,157 shares of the company were exchanged, compared to its average volume of 11,371,369. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market cap of $122.17 billion, a price-to-earnings ratio of 21.67, a P/E/G ratio of 2.19 and a beta of 1.01. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company’s 50-day moving average is $76.83 and its two-hundred day moving average is $88.94.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $0.66 earnings per share. Research analysts forecast that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend yield of 1.83%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Analysts Set New Price Targets

NKE has been the subject of several recent analyst reports. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Citigroup lowered their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Guggenheim decreased their target price on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group dropped their price target on NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Finally, Stifel Nicolaus reduced their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $95.59.

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.