NIKE, Inc. $NKE Shares Sold by Washington Trust Advisors Inc.

Key Points

• Washington Trust Advisors Inc. reduced its holdings in NIKE, Inc. by 3.4%, selling 4,470 shares during the second quarter, leaving them with 127,076 shares valued at approximately $9 million.
• NIKE's stock recently traded at $69.52, with a market capitalization of $102.77 billion, and the company's earnings for the last quarter exceeded analysts' expectations at $0.49 per share.
• The company announced a quarterly dividend of $0.40 per share, yielding 2.3%, with a dividend payout ratio of 82.05% as reported following the dividend payment on October 1st.

Washington Trust Advisors Inc. trimmed its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,076 shares of the footwear maker's stock after selling 4,470 shares during the quarter. Washington Trust Advisors Inc.'s holdings in NIKE were worth $9,027,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NKE. Goldman Sachs Group Inc. lifted its stake in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP lifted its stake in NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Jennison Associates LLC purchased a new stake in NIKE during the first quarter valued at about $509,051,000. Nuveen LLC purchased a new stake in NIKE during the first quarter valued at about $502,285,000. Finally, Vanguard Group Inc. lifted its stake in NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares of the company's stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

NIKE Stock Performance

Shares of NYSE:NKE traded down $0.16 during midday trading on Friday, hitting $69.52. The company's stock had a trading volume of 1,067,069 shares, compared to its average volume of 16,150,450. The stock has a market capitalization of $102.77 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.55 and a beta of 1.29. The stock's 50 day simple moving average is $72.54 and its 200 day simple moving average is $67.67. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the business earned $0.70 earnings per share. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE's dividend payout ratio (DPR) is 82.05%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $78.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, September 10th. Robert W. Baird lifted their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. UBS Group set a $71.00 target price on shares of NIKE and gave the stock a "neutral" rating in a research report on Friday, September 19th. Finally, Zacks Research upgraded NIKE from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus price target of $82.21.

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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