NIKE, Inc. $NKE Shares Sold by Bath Savings Trust Co

Key Points

• Bath Savings Trust Co reduced its holdings in NIKE, Inc. by 13.8% during Q2, selling 19,347 shares, which left it with a total of 121,270 shares valued at approximately $8.6 million.
• NIKE reported Q2 earnings of $0.14 per share, exceeding analyst estimates, with revenue of $11.1 billion, although it represented a year-over-year decline of 11.9%.
• The company's stock is currently rated as a Moderate Buy by analysts, with 19 buy ratings, reflecting a positive outlook despite a recent price target adjustment by Deutsche Bank.

Bath Savings Trust Co decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 121,270 shares of the footwear maker's stock after selling 19,347 shares during the quarter. Bath Savings Trust Co's holdings in NIKE were worth $8,615,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in NIKE in the fourth quarter worth approximately $28,000. Stone House Investment Management LLC purchased a new position in NIKE during the 1st quarter worth approximately $25,000. Saudi Central Bank purchased a new position in NIKE during the 1st quarter worth approximately $30,000. Putney Financial Group LLC purchased a new position in NIKE during the 4th quarter worth approximately $40,000. Finally, N.E.W. Advisory Services LLC purchased a new position in NIKE during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NKE. Sanford C. Bernstein reiterated an "outperform" rating on shares of NIKE in a research report on Monday, August 18th. Argus upgraded shares of NIKE to a "buy" rating in a report on Sunday, July 6th. UBS Group initiated coverage on shares of NIKE in a report on Sunday, July 6th. They set a "buy" rating on the stock. Zacks Research raised shares of NIKE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $78.89.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Down 0.6%

Shares of NKE opened at $72.30 on Thursday. The company has a 50-day simple moving average of $75.27 and a 200-day simple moving average of $67.66. The firm has a market capitalization of $106.78 billion, a P/E ratio of 33.47, a P/E/G ratio of 2.64 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. 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 announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE's dividend payout ratio is currently 74.07%.

About NIKE

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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