Evercore Wealth Management LLC Sells 33,819 Shares of NIKE, Inc. (NYSE:NKE)

Evercore Wealth Management LLC cut its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 28.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,579 shares of the footwear maker's stock after selling 33,819 shares during the period. Evercore Wealth Management LLC's holdings in NIKE were worth $6,476,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Geode Capital Management LLC lifted its position in NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after buying an additional 347,178 shares during the period. Capital World Investors boosted its holdings in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after buying an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after buying an additional 3,121,929 shares during the period. Finally, Norges Bank bought a new position in shares of NIKE in the 4th quarter worth about $1,126,288,000. 64.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan purchased 8,600 shares of the company's stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

NIKE Stock Performance

Shares of NIKE stock traded down $0.82 during trading hours on Friday, reaching $57.66. 17,132,246 shares of the stock traded hands, compared to its average volume of 14,426,587. The company has a 50 day moving average price of $66.75 and a 200 day moving average price of $72.95. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $85.29 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the firm earned $0.98 earnings per share. The company's quarterly revenue was down 9.1% on a year-over-year basis. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. NIKE's dividend payout ratio is presently 53.16%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Bank of America dropped their price objective on shares of NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday. Williams Trading cut their price target on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company lowered their price objective on NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. China Renaissance initiated coverage on NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating on the stock. Finally, Robert W. Baird reduced their price target on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Sixteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $82.81.

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.