Webster Bank N. A. Decreases Holdings in NIKE, Inc. (NYSE:NKE)

Webster Bank N. A. trimmed its stake in NIKE, Inc. (NYSE:NKE) by 23.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,335 shares of the footwear maker’s stock after selling 400 shares during the quarter. Webster Bank N. A.’s holdings in NIKE were worth $101,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Physicians Financial Services Inc. boosted its holdings in shares of NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after purchasing an additional 100 shares during the last quarter. ZWJ Investment Counsel Inc. boosted its stake in NIKE by 4.0% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after buying an additional 100 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after buying an additional 100 shares in the last quarter. J.Safra Asset Management Corp increased its stake in NIKE by 12.9% in the 4th quarter. J.Safra Asset Management Corp now owns 883 shares of the footwear maker’s stock worth $96,000 after acquiring an additional 101 shares during the last quarter. Finally, Beta Wealth Group Inc. raised its holdings in shares of NIKE by 2.3% during the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock worth $489,000 after acquiring an additional 101 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NKE shares. Bank of America reduced their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Wells Fargo & Company decreased their target price on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. UBS Group reiterated a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research report on Friday, June 28th. Stifel Nicolaus restated a “hold” rating and set a $88.00 price objective (down from $117.00) on shares of NIKE in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Hold” and a consensus target price of $96.30.

NIKE Stock Up 0.2 %

Shares of NKE stock traded up $0.15 during mid-day trading on Friday, hitting $74.34. The stock had a trading volume of 7,186,634 shares, compared to its average volume of 11,417,010. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. 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 firm’s 50-day moving average is $81.73 and its two-hundred day moving average is $91.65. The firm has a market capitalization of $112.21 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. On average, analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’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 in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

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.