Whittier Trust Co. Sells 207,263 Shares of NIKE, Inc. (NYSE:NKE)

Whittier Trust Co. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 69.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 92,748 shares of the footwear maker’s stock after selling 207,263 shares during the period. Whittier Trust Co.’s holdings in NIKE were worth $8,199,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. Transcendent Capital Group LLC increased its position in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC increased its position in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in NIKE in the second quarter worth approximately $44,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on NKE shares. Morgan Stanley upped their target price on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Wedbush dropped their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. KeyCorp reissued a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. HSBC dropped their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Finally, Sanford C. Bernstein dropped their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Price Performance

Shares of NYSE:NKE opened at $81.49 on Tuesday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The business has a fifty day moving average price of $82.77 and a 200-day moving average price of $85.19. The company has a market capitalization of $123.00 billion, a PE ratio of 21.85, a PEG ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the firm posted $0.94 earnings per share. NIKE’s revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.82%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% 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.