Argent Trust Co Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Argent Trust Co lessened its holdings in NIKE, Inc. (NYSE:NKE) by 2.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 32,873 shares of the footwear maker’s stock after selling 729 shares during the period. Argent Trust Co’s holdings in NIKE were worth $2,478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its stake in NIKE by 1.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 376,060 shares of the footwear maker’s stock worth $28,344,000 after buying an additional 4,790 shares in the last quarter. SYSTM Wealth Solutions LLC increased its holdings in shares of NIKE by 0.4% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 40,170 shares of the footwear maker’s stock valued at $3,035,000 after acquiring an additional 174 shares during the period. Edgestream Partners L.P. raised its position in shares of NIKE by 967.1% in the 2nd quarter. Edgestream Partners L.P. now owns 82,519 shares of the footwear maker’s stock worth $6,219,000 after acquiring an additional 74,786 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its stake in shares of NIKE by 2.7% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 7,537 shares of the footwear maker’s stock worth $568,000 after purchasing an additional 200 shares during the last quarter. Finally, Excalibur Management Corp boosted its position in NIKE by 12.7% during the second quarter. Excalibur Management Corp now owns 7,099 shares of the footwear maker’s stock valued at $535,000 after purchasing an additional 801 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In other news, 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Up 0.4 %

Shares of NKE stock opened at $80.94 on Thursday. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a 50 day moving average of $77.69 and a 200 day moving average of $87.28. The stock has a market cap of $122.17 billion, a P/E ratio of 21.70, a P/E/G ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. As a group, sell-side analysts expect that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Announces Dividend

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

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. Jefferies Financial Group decreased their price target on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Guggenheim lowered their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Telsey Advisory Group reduced their price target on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Finally, Wedbush dropped their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.74.

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.