First National Trust Co Trims Stake in NIKE, Inc. (NYSE:NKE)

First National Trust Co lowered its holdings in NIKE, Inc. (NYSE:NKE) by 9.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,561 shares of the footwear maker’s stock after selling 1,046 shares during the quarter. First National Trust Co’s holdings in NIKE were worth $723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its position in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP raised its position in NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC raised its position in NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the period. Bank of New York Mellon Corp raised its position in NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.3 %

NIKE stock opened at $71.72 on Friday. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $101.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market capitalization of $106.08 billion, a P/E ratio of 22.14, a PEG ratio of 2.52 and a beta of 1.02. The stock has a 50-day simple moving average of $74.68 and a 200-day simple moving average of $77.81.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the business earned $1.03 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Bank of America dropped their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. TD Cowen dropped their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. JPMorgan Chase & Co. dropped their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research note on Friday, February 7th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.69.

Insider Activity

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.