FineMark National Bank & Trust Has $2.82 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

FineMark National Bank & Trust reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,212 shares of the footwear maker’s stock after selling 6,624 shares during the quarter. FineMark National Bank & Trust’s holdings in NIKE were worth $2,816,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in shares of NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp increased its position in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Assenagon Asset Management S.A. increased its position in NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after purchasing an additional 2,357,745 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in NIKE in the fourth quarter valued at approximately $156,438,000. Finally, State Street Corp grew its stake in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and dropped their target price for the company from $102.00 to $72.00 in a report on Friday, February 7th. Cfra Research raised NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Royal Bank of Canada reduced their price objective on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, March 21st. Finally, Bank of America dropped their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $87.38.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’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 owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Trading Down 1.1 %

NYSE NKE opened at $66.64 on Wednesday. The business’s fifty day moving average is $74.52 and its 200-day moving average is $77.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market capitalization of $98.57 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a one year low of $65.17 and a one year high of $98.04.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s quarterly revenue was down 9.1% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

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.