NIKE, Inc. (NYSE:NKE) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 2.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 895,962 shares of the footwear maker’s stock after selling 26,583 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in NIKE were worth $79,203,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE during the 3rd quarter valued at about $30,000. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new position in shares of NIKE in the second quarter valued at $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE during the 2nd quarter valued at $46,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 0.5 %

NIKE stock opened at $78.77 on Monday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm’s fifty day simple moving average is $80.18 and its 200-day simple moving average is $82.03. The company has a market capitalization of $118.10 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.91 and a beta of 1.03.

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

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s payout ratio is 42.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Royal Bank of Canada dropped their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Telsey Advisory Group cut their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Needham & Company LLC began coverage on shares of NIKE in a research note on Friday, November 22nd. They issued a “buy” rating and a $84.00 price objective for the company. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

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.