Bath Savings Trust Co Has $11.62 Million Stake in NIKE, Inc. (NYSE:NKE)

Bath Savings Trust Co reduced its holdings in NIKE, Inc. (NYSE:NKE) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 153,578 shares of the footwear maker’s stock after selling 23,516 shares during the period. NIKE accounts for about 1.2% of Bath Savings Trust Co’s portfolio, making the stock its 25th largest holding. Bath Savings Trust Co’s holdings in NIKE were worth $11,621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cacti Asset Management LLC bought a new stake in NIKE during the fourth quarter worth about $9,987,000. ING Groep NV acquired a new position in shares of NIKE during the 3rd quarter worth approximately $29,628,000. Confluence Investment Management LLC raised its stake in shares of NIKE by 6.3% during the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock worth $18,621,000 after purchasing an additional 14,592 shares in the last quarter. Cordatus Wealth Management LLC boosted its holdings in shares of NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after buying an additional 6,778 shares during the last quarter. Finally, Everence Capital Management Inc. grew its stake in shares of NIKE by 128.1% in the fourth quarter. Everence Capital Management Inc. now owns 24,680 shares of the footwear maker’s stock valued at $1,868,000 after buying an additional 13,860 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company reduced their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Sanford C. Bernstein dropped their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Morgan Stanley cut their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Robert W. Baird decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.58.

NIKE Price Performance

NKE traded up $0.08 on Tuesday, hitting $72.08. 6,347,417 shares of the stock were exchanged, compared to its average volume of 10,509,525. The firm has a market capitalization of $108.07 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $107.43. The business has a 50-day moving average of $76.77 and a two-hundred day moving average of $78.93.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 EPS. Sell-side analysts forecast that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

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.