First Western Trust Bank Has $4.05 Million Stock Position in NIKE, Inc. (NYSE:NKE)

First Western Trust Bank lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 15.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,776 shares of the footwear maker’s stock after selling 8,493 shares during the quarter. First Western Trust Bank’s holdings in NIKE were worth $4,047,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Longview Partners Guernsey LTD bought a new position in shares of NIKE during the first quarter valued at $533,533,000. Capital World Investors boosted its position in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares in the last quarter. PineStone Asset Management Inc. grew its stake in NIKE by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after buying an additional 1,576,049 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after buying an additional 1,550,611 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of NIKE by 145.2% in the third quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock valued at $186,675,000 after acquiring an additional 1,250,380 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NKE shares. Morgan Stanley increased their price target on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Barclays decreased their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Sanford C. Bernstein reduced their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Finally, Stifel Nicolaus lowered 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. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Trading Up 1.3 %

NYSE:NKE opened at $76.66 on Monday. The business’s 50-day simple moving average is $80.89 and its 200-day simple moving average is $83.15. 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 fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a market capitalization of $114.94 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the firm earned $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.09%. NIKE’s payout ratio is 42.41%.

About NIKE

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.