Raymond James Trust N.A. Has $3.42 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Raymond James Trust N.A. lessened its position in NIKE, Inc. (NYSE:NKE) by 5.9% during the 2nd quarter, Holdings Channel reports. The firm owned 45,382 shares of the footwear maker’s stock after selling 2,854 shares during the quarter. Raymond James Trust N.A.’s holdings in NIKE were worth $3,420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC lifted its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in NIKE during the 4th quarter worth about $33,000. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in NIKE during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NKE. Guggenheim cut their price target on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Raymond James restated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $88.00 price target (down from $117.00) on shares of NIKE in a research note on Friday, June 28th. Bank of America dropped their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Evercore ISI decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.93.

NIKE Stock Performance

Shares of NKE traded down $0.49 during trading hours on Monday, reaching $83.56. 662,489 shares of the company traded hands, compared to its average volume of 11,400,954. The stock has a market capitalization of $126.12 billion, a P/E ratio of 22.53, a P/E/G ratio of 1.92 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average price of $79.07 and a 200-day moving average price of $90.13. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. Equities analysts anticipate that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.77%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.