Whittier Trust Co. Sells 8,992 Shares of NIKE, Inc. $NKE

Key Points

• Whittier Trust Co. has reduced its stake in NIKE, Inc. by 13.5%, selling 8,992 shares and now holding a total of 57,377 shares valued at approximately $4.08 million.
• In Q1, several major investors increased their stakes in NIKE, with Goldman Sachs boosting its position by an astonishing 344.2%, acquiring over 20 million additional shares.
• NIKE's latest earnings showed a stronger performance with $0.49 earnings per share, surpassing analysts' expectations, and revenue of $11.72 billion for the quarter.

Whittier Trust Co. cut its position in NIKE, Inc. (NYSE:NKE - Free Report) by 13.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,377 shares of the footwear maker's stock after selling 8,992 shares during the period. Whittier Trust Co.'s holdings in NIKE were worth $4,076,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of NIKE by 4.6% in the 1st 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 during the period. Wellington Management Group LLP boosted its stake in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the last quarter. Finally, Flossbach Von Storch SE boosted its stake in NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after purchasing an additional 1,988,547 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE NKE opened at $68.39 on Wednesday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The stock's 50 day moving average price is $72.84 and its 200-day moving average price is $67.56. The company has a market capitalization of $101.09 billion, a PE ratio of 35.07, a PEG ratio of 2.49 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE - Get Free Report) last announced 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 firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the previous year, the business earned $0.70 EPS. The company's revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NKE shares. Robert W. Baird lifted their price target on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. DZ Bank upgraded NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, October 1st. Barclays set a $70.00 price target on NIKE and gave the company a "positive" rating in a research note on Wednesday, October 1st. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Finally, Weiss Ratings raised shares of NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, NIKE has an average rating of "Moderate Buy" and a consensus target price of $82.21.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.80% of the company's stock.

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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