Ballentine Partners LLC Sells 5,568 Shares of NIKE, Inc. (NYSE:NKE)

Ballentine Partners LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 17.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,636 shares of the footwear maker’s stock after selling 5,568 shares during the period. Ballentine Partners LLC’s holdings in NIKE were worth $2,409,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NKE. Iron Horse Wealth Management LLC raised its holdings in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. bought a new position in NIKE in the fourth quarter valued at $29,000. True Wealth Design LLC grew its position in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Core Wealth Advisors Inc. grew its position in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in NIKE in the fourth quarter valued at $33,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on NKE shares. The Goldman Sachs Group decreased their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price objective (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Evercore ISI dropped their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Williams Trading restated a “sell” rating and issued a $85.00 target price (down from $92.00) on shares of NIKE in a research report on Monday, March 18th. Finally, StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $114.81.

NIKE Stock Up 0.4 %

Shares of NIKE stock traded up $0.36 during trading on Monday, reaching $97.54. 747,471 shares of the company traded hands, compared to its average volume of 9,115,757. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a 50 day moving average price of $93.60 and a 200-day moving average price of $99.79. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $123.39. The firm has a market capitalization of $147.22 billion, a PE ratio of 28.58, a P/E/G ratio of 1.80 and a beta of 1.05.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. As a group, equities research analysts expect that NIKE, Inc. will post 3.76 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.52%. NIKE’s payout ratio is 43.53%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 in the last quarter. 0.50% of the stock is currently owned by corporate 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.