Smithfield Trust Co Decreases Stake in NIKE, Inc. (NYSE:NKE)

Smithfield Trust Co cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,669 shares of the footwear maker’s stock after selling 242 shares during the period. Smithfield Trust Co’s holdings in NIKE were worth $1,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Chicago Partners Investment Group LLC grew its position in shares of NIKE by 10.3% during the third quarter. Chicago Partners Investment Group LLC now owns 6,586 shares of the footwear maker’s stock worth $582,000 after buying an additional 614 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in NIKE by 0.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 301,731 shares of the footwear maker’s stock valued at $26,673,000 after acquiring an additional 1,830 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in NIKE during the 3rd quarter worth $54,000. FSM Wealth Advisors LLC increased its position in shares of NIKE by 18.5% in the 3rd quarter. FSM Wealth Advisors LLC now owns 4,945 shares of the footwear maker’s stock worth $437,000 after purchasing an additional 772 shares during the last quarter. Finally, Sentry Investment Management LLC increased its position in shares of NIKE by 355.9% in the 3rd quarter. Sentry Investment Management LLC now owns 5,735 shares of the footwear maker’s stock worth $507,000 after purchasing an additional 4,477 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NKE has been the topic of several research analyst reports. Bank of America reduced their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Barclays reduced their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Morgan Stanley dropped their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, TD Cowen decreased their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $77.36 on Wednesday. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $102.49. The firm has a market capitalization of $114.43 billion, a PE ratio of 23.88, a P/E/G ratio of 2.52 and a beta of 1.01. The firm has a 50-day moving average price of $74.68 and a 200 day moving average price of $78.25. 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 posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business earned $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

NIKE 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.