Bath Savings Trust Co Decreases Stake in NIKE, Inc. (NYSE:NKE)

Bath Savings Trust Co lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 14.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 177,094 shares of the footwear maker’s stock after selling 28,849 shares during the period. NIKE makes up about 1.6% of Bath Savings Trust Co’s portfolio, making the stock its 22nd biggest position. Bath Savings Trust Co’s holdings in NIKE were worth $15,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of NKE. XML Financial LLC acquired a new position in shares of NIKE in the 4th quarter valued at $214,000. Vontobel Asset Management Inc. increased its holdings in shares of NIKE by 0.6% in the fourth quarter. Vontobel Asset Management Inc. now owns 1,426,785 shares of the footwear maker’s stock valued at $163,156,000 after purchasing an additional 8,810 shares during the period. Whitford Management LLC increased its holdings in shares of NIKE by 138.6% in the fourth quarter. Whitford Management LLC now owns 67,277 shares of the footwear maker’s stock valued at $7,304,000 after purchasing an additional 39,085 shares during the period. Bellevue Group AG purchased a new position in shares of NIKE in the fourth quarter worth about $369,000. Finally, Enzi Wealth acquired a new stake in shares of NIKE during the fourth quarter worth about $520,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NKE stock opened at $80.82 on Tuesday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The firm has a market capitalization of $121.99 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The business has a 50 day simple moving average of $80.90 and a 200-day simple moving average of $86.05.

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

NIKE Announces Dividend

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

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on 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 transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NKE. Jefferies Financial Group raised their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. TD Cowen boosted their target price on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein cut their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. The Goldman Sachs Group decreased their price objective on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, HSBC dropped their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.04.

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.