Trust Co. of Vermont Sells 12,555 Shares of NIKE, Inc. $NKE

Key Points

• Trust Co. of Vermont has sold 12,555 shares of NIKE, Inc., reducing its stake by 17.1%, and now owns a total of 60,830 shares valued at approximately $4.32 million.
• NIKE recently reported a quarterly earnings per share (EPS) of $0.49, exceeding analysts' expectations, with a revenue of $11.72 billion, marking a 1.0% year-over-year increase.
• The company announced a quarterly dividend of $0.40 to be paid on October 1st, contributing to a current dividend yield of 2.3% and a payout ratio of 74.07%.

Trust Co. of Vermont reduced its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 17.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,830 shares of the footwear maker's stock after selling 12,555 shares during the period. Trust Co. of Vermont's holdings in NIKE were worth $4,321,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Spire Wealth Management raised its position in shares of NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after buying an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after buying an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of NIKE in the first quarter worth $25,963,000. BROOKFIELD Corp ON raised its position in shares of NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after buying an additional 175,000 shares in the last quarter. Finally, Olstein Capital Management L.P. raised its position in shares of NIKE by 42.2% in the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker's stock worth $5,777,000 after buying an additional 27,000 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 0.2%

NKE opened at $69.72 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a market cap of $102.97 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.54 and a beta of 1.24. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $89.64. The business's 50-day moving average price is $74.78 and its 200-day moving average price is $67.27.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.NIKE's quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NKE. Evercore ISI lowered their price objective on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research report on Friday, June 27th. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the company a "buy" rating in a research report on Thursday, September 25th. Finally, Telsey Advisory Group raised their price target on NIKE from $70.00 to $75.00 and gave the company a "market perform" rating in a research report on Tuesday, September 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.62.

Insider Activity

In related news, 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 value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is owned by insiders.

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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