NIKE, Inc. $NKE Shares Sold by American Trust

Key Points

• American Trust reduced its stake in NIKE, Inc. by 30.7%, selling 13,208 shares and holding 29,835 shares valued at approximately $1.89 million.
• Chairman Mark G. Parker sold 110,000 shares of NIKE stock for nearly $8 million, resulting in an 11.55% decrease in his ownership.
• NIKE declared a quarterly dividend of $0.40 per share, with the ex-dividend date set for September 2, resulting in a 2.2% dividend yield.

American Trust lessened its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,835 shares of the footwear maker's stock after selling 13,208 shares during the quarter. American Trust's holdings in NIKE were worth $1,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the first quarter worth about $25,000. Heck Capital Advisors LLC acquired a new stake in NIKE in the 4th quarter worth about $28,000. Saudi Central Bank purchased a new stake in NIKE during the 1st quarter worth approximately $30,000. Roxbury Financial LLC increased its stake in NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after buying an additional 201 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of NIKE during the first quarter valued at approximately $37,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Up 0.4%

NYSE NKE opened at $74.18 on Tuesday. The business's fifty day simple moving average is $75.54 and its 200-day simple moving average is $67.83. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The firm has a market cap of $109.55 billion, a PE ratio of 34.34, a P/E/G ratio of 2.69 and a beta of 1.24. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same period last year, the business earned $0.99 earnings per share. NIKE's revenue was down 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is presently 74.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NKE. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of NIKE in a research note on Monday, August 18th. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a report on Saturday. Robert W. Baird upped their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Argus upgraded shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Finally, Zacks Research raised shares of NIKE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

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.

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