First County Bank CT Lowers Holdings in NIKE, Inc. (NYSE:NKE)

First County Bank CT reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 19.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,199 shares of the footwear maker’s stock after selling 753 shares during the quarter. First County Bank CT’s holdings in NIKE were worth $283,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NKE. Transcendent Capital Group LLC lifted its stake in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC lifted its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in NIKE in the 2nd quarter valued at about $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in NIKE in the 2nd quarter valued at about $46,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Stifel Nicolaus cut their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Bank of America dropped their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Barclays decreased their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Finally, Guggenheim decreased their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Price Performance

Shares of NKE stock opened at $77.40 on Friday. The company has a market capitalization of $116.05 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.03. The firm has a fifty day simple moving average of $80.51 and a 200-day simple moving average of $82.67. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

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.