Fiduciary Trust Co Sells 21,249 Shares of NIKE, Inc. (NYSE:NKE)

Fiduciary Trust Co lessened its position in NIKE, Inc. (NYSE:NKE) by 15.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 118,744 shares of the footwear maker’s stock after selling 21,249 shares during the period. Fiduciary Trust Co’s holdings in NIKE were worth $10,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NKE. VitalStone Financial LLC lifted its position 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 acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE during the second quarter valued at $44,000. MFA Wealth Advisors LLC bought a new stake in NIKE in the 2nd quarter worth about $46,000. Finally, Lynx Investment Advisory purchased a new position in NIKE in the 2nd quarter worth about $47,000. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.9 %

NKE stock opened at $78.31 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The business has a 50 day simple moving average of $80.39 and a two-hundred day simple moving average of $82.29. The company has a market capitalization of $117.41 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.92 and a beta of 1.03.

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

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NKE. Needham & Company LLC began coverage on shares of NIKE in a report on Friday, November 22nd. They set a “buy” rating and a $84.00 price target on the stock. JPMorgan Chase & Co. cut their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. UBS Group boosted their target price on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus dropped their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Finally, Telsey Advisory Group reduced their price objective on NIKE from $100.00 to $96.00 and set an “outperform” 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

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.