NIKE, Inc. (NYSE:NKE) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,728 shares of the footwear maker’s stock after selling 851 shares during the period. Mechanics Bank Trust Department’s holdings in NIKE were worth $1,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Spartan Planning & Wealth Management purchased a new stake in shares of NIKE during the 4th quarter worth about $182,000. Advisors Asset Management Inc. increased its position in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares in the last quarter. FORA Capital LLC purchased a new position in shares of NIKE in the 1st quarter valued at $3,412,000. Cetera Advisors LLC lifted its holdings in shares of NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after acquiring an additional 40,704 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new position in shares of NIKE during the 1st quarter valued at $713,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 0.1 %

NYSE:NKE opened at $82.15 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $81.66 and a 200-day moving average of $85.64. The firm has a market capitalization of $123.99 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. Analysts predict that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.80%. NIKE’s dividend payout ratio is presently 39.68%.

Analyst Ratings Changes

Several analysts recently issued reports on NKE shares. UBS Group increased their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Evercore ISI lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Robert W. Baird boosted their price target on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” 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 sixteen have given a buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’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 owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

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.