NIKE, Inc. (NYSE:NKE) Stake Decreased by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,407 shares of the footwear maker’s stock after selling 2,697 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in NIKE were worth $4,014,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC grew its stake in shares of NIKE by 440.0% in the first 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 grew its position in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in NIKE during the 4th quarter valued at about $33,000. Core Wealth Advisors Inc. raised its position in shares of 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 buying an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC bought a new position in shares of NIKE in the fourth quarter valued at approximately $38,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NKE stock opened at $83.10 on Thursday. The firm has a 50 day moving average of $80.50 and a two-hundred day moving average of $86.39. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market capitalization of $125.43 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 2.30 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The business’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. NIKE’s payout ratio is presently 39.68%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Wedbush dropped their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Robert W. Baird raised their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Citigroup lowered their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, BMO Capital Markets cut their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.04.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE 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.