Grove Bank & Trust Sells 15,417 Shares of NIKE, Inc. (NYSE:NKE)

Grove Bank & Trust reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 78.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,147 shares of the footwear maker’s stock after selling 15,417 shares during the period. Grove Bank & Trust’s holdings in NIKE were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NKE. Fiduciary Alliance LLC raised its holdings in NIKE by 74.0% during the 3rd quarter. Fiduciary Alliance LLC now owns 4,771 shares of the footwear maker’s stock worth $422,000 after purchasing an additional 2,029 shares during the last quarter. Stablepoint Partners LLC increased its holdings in NIKE by 16.6% in the third quarter. Stablepoint Partners LLC now owns 12,377 shares of the footwear maker’s stock worth $1,094,000 after purchasing an additional 1,765 shares in the last quarter. Procyon Advisors LLC increased its holdings in NIKE by 389.9% in the third quarter. Procyon Advisors LLC now owns 28,100 shares of the footwear maker’s stock worth $2,485,000 after purchasing an additional 22,364 shares in the last quarter. VitalStone Financial LLC lifted its stake in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Finally, Smith Chas P & Associates PA Cpas bought a new position in shares of NIKE during the 3rd quarter worth approximately $220,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were 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 of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NKE shares. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Wells Fargo & Company upped their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. HSBC dropped their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Morgan Stanley boosted their target price on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Evercore ISI decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Stock Down 0.7 %

Shares of NKE opened at $81.60 on Tuesday. The firm has a market cap of $123.16 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a 50 day simple moving average of $81.86 and a two-hundred day simple moving average of $85.49. 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 (NYSE:NKE) last issued its earnings results 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 company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS. On average, analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 1.81%. NIKE’s payout ratio is currently 39.68%.

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.