NIKE, Inc. (NYSE:NKE) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 659,628 shares of the footwear maker's stock after selling 26,068 shares during the period. Fifth Third Bancorp's holdings in NIKE were worth $41,873,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NKE. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $28,000. Roxbury Financial LLC bought a new position in NIKE in the 4th quarter valued at $30,000. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after acquiring an additional 210 shares during the period. Hopwood Financial Services Inc. purchased a new stake in NIKE in the fourth quarter worth about $30,000. Finally, EnRich Financial Partners LLC lifted its stake in shares of NIKE by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NKE. Telsey Advisory Group dropped their target price on NIKE from $80.00 to $70.00 and set a "market perform" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their price target on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Stifel Nicolaus decreased their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Barclays dropped their price objective on shares of NIKE from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Finally, The Goldman Sachs Group reduced their target price on NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $80.26.

NIKE Price Performance

Shares of NIKE stock traded down $2.36 on Friday, reaching $60.44. The company's stock had a trading volume of 16,491,618 shares, compared to its average volume of 15,169,330. 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 company has a market capitalization of $89.40 billion, a P/E ratio of 18.65, a PEG ratio of 2.52 and a beta of 1.21. The stock has a 50-day moving average price of $59.23 and a 200-day moving average price of $68.85. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04.

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 the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.65%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.