Fiduciary Trust Co Sells 18,132 Shares of NIKE, Inc. (NYSE:NKE)

Fiduciary Trust Co lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,612 shares of the footwear maker’s stock after selling 18,132 shares during the period. Fiduciary Trust Co’s holdings in NIKE were worth $7,613,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of NIKE in the 4th quarter worth $512,000. Watts Gwilliam & Co. LLC purchased a new position in NIKE in the fourth quarter worth about $326,000. Fortitude Family Office LLC increased its stake in NIKE by 6.1% during the fourth quarter. Fortitude Family Office LLC now owns 2,988 shares of the footwear maker’s stock worth $226,000 after acquiring an additional 171 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in NIKE by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 206,023 shares of the footwear maker’s stock worth $15,590,000 after acquiring an additional 1,120 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in NIKE by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 16,475 shares of the footwear maker’s stock valued at $1,247,000 after purchasing an additional 404 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stifel Nicolaus cut their target price on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group cut their price objective on shares of NIKE from $88.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. UBS Group lowered their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, March 21st. Guggenheim reaffirmed a “buy” rating and set a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Finally, Truist Financial reduced their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.48.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Holmes Swan purchased 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. The trade was a 36.78 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 1.0 %

Shares of NYSE NKE opened at $58.35 on Friday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The business has a fifty day moving average price of $62.52 and a 200 day moving average price of $71.31. The stock has a market capitalization of $86.31 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The company’s quarterly revenue was down 9.1% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is currently 53.16%.

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.