Perkins Coie Trust Co Sells 410 Shares of NIKE, Inc. (NYSE:NKE)

Perkins Coie Trust Co reduced its stake in NIKE, Inc. (NYSE:NKE) by 27.6% in the 1st quarter, HoldingsChannel reports. The firm owned 1,077 shares of the footwear maker’s stock after selling 410 shares during the quarter. Perkins Coie Trust Co’s holdings in NIKE were worth $68,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caitlin John LLC lifted its holdings in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in shares of NIKE by 10.6% in the fourth quarter. Financial Advocates Investment Management now owns 19,673 shares of the footwear maker’s stock valued at $1,489,000 after purchasing an additional 1,886 shares in the last quarter. Silver Oak Securities Incorporated lifted its holdings in shares of NIKE by 15.9% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,329 shares of the footwear maker’s stock valued at $248,000 after purchasing an additional 456 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of NIKE by 14.0% in the fourth quarter. GHP Investment Advisors Inc. now owns 2,461 shares of the footwear maker’s stock valued at $186,000 after purchasing an additional 302 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $62.82 on Friday. The business’s fifty day moving average is $58.86 and its 200 day moving average is $69.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market cap of $92.92 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04.

NIKE (NYSE:NKE) last announced 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 firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the firm earned $0.98 EPS. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. NIKE’s dividend payout ratio is currently 53.16%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NKE. Telsey Advisory Group dropped their price target on shares of NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 6th. Bank of America dropped their price target on shares of NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Robert W. Baird dropped their price target on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Stifel Nicolaus reduced their price objective on NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.26.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.