Fiduciary Trust Co Trims Holdings in NIKE, Inc. (NYSE:NKE)

Fiduciary Trust Co lowered its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 100,612 shares of the footwear maker's stock after selling 18,132 shares during the quarter. Fiduciary Trust Co's holdings in NIKE were worth $7,613,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NKE. Norges Bank bought a new stake in shares of NIKE during the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP lifted its holdings in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the period. Pacer Advisors Inc. boosted its position in NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock valued at $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of NIKE by 18.1% during 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 acquiring an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after acquiring an additional 2,416,601 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, 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 disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

NIKE Trading Down 1.0 %

Shares of NKE stock opened at $58.35 on Friday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The firm has a fifty day moving average price of $62.52 and a 200-day moving average price of $71.31. The company has a market cap of $86.31 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The business's quarterly revenue was down 9.1% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio is currently 53.16%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NKE shares. BMO Capital Markets reduced their price target on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Jefferies Financial Group raised shares of NIKE from a "hold" rating to a "buy" rating and upped their target price for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Stifel Nicolaus lowered their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Finally, Needham & Company LLC lowered their target price on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, March 17th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $80.48.

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.

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