Whittier Trust Co. of Nevada Inc. Reduces Holdings in NIKE, Inc. (NYSE:NKE)

by · The Markets Daily

Whittier Trust Co. of Nevada Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE – Free Report) by 57.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,467 shares of the footwear maker’s stock after selling 88,869 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in NIKE were worth $5,876,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Longview Partners Guernsey LTD acquired a new position in shares of NIKE in the first quarter worth $533,533,000. Capital World Investors boosted its stake in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after buying an additional 2,775,510 shares in the last quarter. PineStone Asset Management Inc. raised its position in shares of NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after buying an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other NIKE 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 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Robert W. Baird upped their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. BMO Capital Markets dropped their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Barclays decreased their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

Check Out Our Latest Analysis on NKE

NIKE Price Performance

Shares of NYSE:NKE traded down $1.13 during trading hours on Monday, hitting $81.79. 4,315,806 shares of the company’s stock traded hands, compared to its average volume of 11,665,579. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company’s fifty day simple moving average is $82.64 and its two-hundred day simple moving average is $85.24. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a market cap of $123.45 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.94 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

About NIKE

(Free Report)

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.

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