Sanibel Captiva Trust Company Inc. Sells 22,912 Shares of NIKE, Inc. (NYSE:NKE)

Sanibel Captiva Trust Company Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 15.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 127,952 shares of the footwear maker's stock after selling 22,912 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in NIKE were worth $8,122,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after purchasing an additional 347,178 shares in the last quarter. Capital World Investors boosted its holdings in NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp grew its position in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Norges Bank purchased a new stake in NIKE in the 4th quarter valued at about $1,126,288,000. Institutional investors own 64.25% of the company's stock.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NKE shares. China Renaissance started coverage on NIKE in a report on Wednesday, March 19th. They issued a "hold" rating for the company. Berenberg Bank assumed coverage on NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective for the company. Bank of America lowered their target price on NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus reduced their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Finally, Cfra Research raised shares of NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus target price of $80.26.

NIKE Trading Down 3.8%

Shares of NYSE:NKE traded down $2.36 on Friday, reaching $60.44. 16,491,618 shares of the company traded hands, compared to its average volume of 15,169,330. The stock has a market capitalization of $89.40 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The business's 50-day simple moving average is $59.38 and its 200 day simple moving average is $68.73. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. 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 announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business's revenue was down 9.1% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is currently 53.16%.

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.