Private Trust Co. NA Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Private Trust Co. NA cut its position in shares of NIKE, Inc. (NYSE:NKE) by 37.7% during the third quarter, Holdings Channel.com reports. The firm owned 11,113 shares of the footwear maker’s stock after selling 6,726 shares during the quarter. Private Trust Co. NA’s holdings in NIKE were worth $982,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Waverly Advisors LLC grew its position in NIKE by 33.2% in the first quarter. Waverly Advisors LLC now owns 11,758 shares of the footwear maker’s stock worth $1,105,000 after acquiring an additional 2,931 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of NIKE during the 1st quarter worth about $5,454,000. B. Riley Wealth Advisors Inc. raised its holdings in NIKE by 17.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 58,025 shares of the footwear maker’s stock valued at $5,568,000 after buying an additional 8,458 shares during the period. Tidal Investments LLC lifted its position in NIKE by 26.2% in the first quarter. Tidal Investments LLC now owns 53,670 shares of the footwear maker’s stock valued at $5,045,000 after buying an additional 11,140 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in NIKE during the first quarter worth about $350,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 2.4 %

Shares of NYSE:NKE opened at $79.26 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market cap of $118.84 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm has a fifty day moving average price of $80.50 and a 200 day moving average price of $82.42.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is presently 45.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. UBS Group upped their price target on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus lowered their target price on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $95.86.

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.