Private Trust Co. NA Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Private Trust Co. NA decreased its holdings in NIKE, Inc. (NYSE:NKE) by 37.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,113 shares of the footwear maker’s stock after selling 6,726 shares during the period. Private Trust Co. NA’s holdings in NIKE were worth $982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. VitalStone Financial LLC increased its holdings in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC increased its holdings in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the period. Triad Wealth Partners LLC bought a new stake in NIKE during the second quarter valued at about $44,000. Riverview Trust Co purchased a new position in NIKE in the third quarter valued at about $52,000. Finally, Beacon Capital Management LLC raised its holdings in NIKE by 111.2% in the first quarter. Beacon Capital Management LLC now owns 604 shares of the footwear maker’s stock worth $57,000 after purchasing an additional 318 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NKE. Jefferies Financial Group raised their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. JPMorgan Chase & Co. reduced their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. UBS Group raised their price objective on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America decreased their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Guggenheim dropped their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Trading Up 2.4 %

Shares of NKE opened at $79.26 on Tuesday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock has a market cap of $118.84 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. The firm’s fifty day moving average is $80.50 and its two-hundred day moving average is $82.42. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 earnings per share. Research analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. NIKE’s dividend payout ratio is 45.85%.

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.