Spinnaker Trust Has $453,000 Position in NIKE, Inc. (NYSE:NKE)

Spinnaker Trust cut its holdings in NIKE, Inc. (NYSE:NKE) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,987 shares of the footwear maker’s stock after selling 190 shares during the period. Spinnaker Trust’s holdings in NIKE were worth $453,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. PUREfi Wealth LLC acquired a new position in shares of NIKE in the fourth quarter valued at about $350,000. Bank Pictet & Cie Europe AG grew its stake in shares of NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock valued at $14,447,000 after acquiring an additional 17,888 shares in the last quarter. Klingenstein Fields & Co. LP grew its stake in shares of NIKE by 0.4% in the fourth quarter. Klingenstein Fields & Co. LP now owns 177,954 shares of the footwear maker’s stock valued at $13,466,000 after acquiring an additional 689 shares in the last quarter. Asset Planning Inc acquired a new position in shares of NIKE in the fourth quarter valued at about $56,000. Finally, V Square Quantitative Management LLC grew its stake in shares of NIKE by 7.7% in the fourth quarter. V Square Quantitative Management LLC now owns 29,183 shares of the footwear maker’s stock valued at $2,208,000 after acquiring an additional 2,077 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Barclays reduced their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Stifel Nicolaus reduced their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research note on Thursday, February 6th. Finally, UBS Group reiterated a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $73.02 on Friday. The company has a market capitalization of $108.00 billion, a PE ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.01. The company has a 50 day simple moving average of $74.46 and a two-hundred day simple moving average of $78.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.34.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during 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 company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. Research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

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.