Whittier Trust Co. of Nevada Inc. Sells 8,346 Shares of NIKE, Inc. (NYSE:NKE)

Whittier Trust Co. of Nevada Inc. decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,783 shares of the footwear maker's stock after selling 8,346 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in NIKE were worth $3,414,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Spire Wealth Management raised its position in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after buying an additional 416 shares during the period. Renaissance Technologies LLC grew its stake in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC grew its stake in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after purchasing an additional 90,000 shares in the last quarter. Janus Henderson Group PLC grew its stake in NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after purchasing an additional 463,470 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after purchasing an additional 7,536 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Performance

NYSE NKE traded down $0.68 during trading on Friday, reaching $72.31. 2,690,565 shares of the company's stock were exchanged, compared to its average volume of 15,071,225. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The business has a 50 day moving average price of $65.21 and a 200-day moving average price of $67.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a market capitalization of $106.95 billion, a P/E ratio of 33.50, a PEG ratio of 2.65 and a beta of 1.25.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Monday, June 2nd. NIKE's payout ratio is 74.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NKE. UBS Group began coverage on NIKE in a research note on Sunday, July 6th. They issued a "buy" rating on the stock. DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. Truist Financial lowered their target price on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Piper Sandler boosted their target price on NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Finally, Robert W. Baird increased their price objective on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the business's 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 sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company's stock.

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.