NIKE, Inc. (NYSE:NKE) Holdings Trimmed by Legacy Trust

Legacy Trust decreased its holdings in NIKE, Inc. (NYSE:NKE) by 29.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,281 shares of the footwear maker’s stock after selling 13,579 shares during the quarter. Legacy Trust’s holdings in NIKE were worth $2,518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the 3rd quarter valued at $30,000. VitalStone Financial LLC boosted its position 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 purchasing an additional 150 shares during the period. Dunhill Financial LLC grew its stake in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the last quarter. Riverview Trust Co bought a new position in shares of NIKE in the third quarter worth about $52,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of NIKE during the third quarter worth approximately $54,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. Guggenheim decreased their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Bank of America dropped their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. TD Cowen reduced their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of NIKE in a report on Friday, December 20th. Finally, Barclays dropped their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.96.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $76.65 on Thursday. The firm has a market cap of $113.38 billion, a PE ratio of 23.66, a P/E/G ratio of 2.36 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company’s fifty day simple moving average is $75.48 and its 200-day simple moving average is $77.96. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 EPS. Equities research analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.