Dorsey & Whitney Trust CO LLC Has $1.04 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Dorsey & Whitney Trust CO LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 21.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,766 shares of the footwear maker’s stock after purchasing an additional 2,458 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in NIKE were worth $1,038,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Annapolis Financial Services LLC increased its position in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC increased its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in NIKE during the 4th quarter worth approximately $33,000. Core Wealth Advisors Inc. increased its position in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in NIKE during the 4th quarter worth approximately $36,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on NKE. Oppenheimer reiterated an “outperform” rating and set a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. BMO Capital Markets reduced their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Guggenheim reduced their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. UBS Group reissued a “neutral” rating and set a $78.00 target price on shares of NIKE in a report on Friday, June 28th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $79.00 target price (down from $114.00) on shares of NIKE in a report on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Stock Performance

NKE opened at $78.07 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company’s fifty day moving average price is $77.03 and its two-hundred day moving average price is $88.19. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a market cap of $117.06 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.11 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.90%. NIKE’s payout ratio is 39.68%.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Corporate 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.