NIKE, Inc. (NYSE:NKE) Stake Cut by Fulton Bank N.A.

Fulton Bank N.A. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 22.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,334 shares of the footwear maker’s stock after selling 3,569 shares during the period. Fulton Bank N.A.’s holdings in NIKE were worth $933,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the third quarter worth about $30,000. VitalStone Financial LLC raised its position in shares of NIKE by 52.6% during the 3rd 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 period. Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in NIKE during the 2nd quarter valued at approximately $48,000. Finally, Ecofi Investissements SA bought a new position in NIKE during the 2nd quarter worth $49,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent research reports. UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Jefferies Financial Group raised their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Morgan Stanley cut their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.58.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $71.31 on Thursday. The company has a 50-day moving average of $76.54 and a two-hundred day moving average of $78.70. The stock has a market cap of $106.92 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a one year low of $70.75 and a one year high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business posted $1.03 EPS. The company’s revenue was down 7.7% on a year-over-year basis. On average, equities research analysts expect that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.24%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is presently 49.38%.

About NIKE

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.