Newport Trust Company LLC Has $493.65 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Newport Trust Company LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,549,723 shares of the footwear maker’s stock after selling 273,055 shares during the quarter. NIKE makes up about 1.2% of Newport Trust Company LLC’s investment portfolio, making the stock its 17th largest position. Newport Trust Company LLC owned 0.43% of NIKE worth $493,653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. 9258 Wealth Management LLC lifted its holdings in shares of NIKE by 23.9% during the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after acquiring an additional 842 shares during the period. Gryphon Financial Partners LLC raised its position in NIKE by 34.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after purchasing an additional 2,981 shares in the last quarter. TrinityPoint Wealth LLC lifted its stake in NIKE by 0.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock worth $2,341,000 after purchasing an additional 166 shares during the period. GW&K Investment Management LLC boosted its holdings in NIKE by 26.4% during the fourth quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock valued at $66,000 after purchasing an additional 126 shares in the last quarter. Finally, WBI Investments LLC bought a new stake in shares of NIKE in the 4th quarter valued at approximately $1,084,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

Shares of NKE opened at $80.97 on Friday. 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 stock has a market cap of $122.21 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The stock’s 50-day moving average price is $77.84 and its two-hundred day moving average price is $87.23. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Analysts Set New Price Targets

Several research firms recently commented on NKE. The Goldman Sachs Group cut their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Oppenheimer reissued an “outperform” rating and set a $120.00 price objective on shares of NIKE in a report on Friday, June 28th. Guggenheim lowered 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. Wells Fargo & Company cut their price target on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Finally, BMO Capital Markets reduced their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $95.33.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by company 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.