Whittier Trust Co. Has $5.77 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Whittier Trust Co. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,288 shares of the footwear maker’s stock after selling 16,460 shares during the period. Whittier Trust Co.’s holdings in NIKE were worth $5,773,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP lifted its stake in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC lifted its stake in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after purchasing an additional 583,207 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 1.9 %

NYSE:NKE opened at $71.61 on Friday. NIKE, Inc. has a fifty-two week low of $67.66 and a fifty-two week high of $101.92. The stock has a market capitalization of $105.92 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.52 and a beta of 1.02. 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 company’s 50-day simple moving average is $74.77 and its 200-day simple moving average is $77.56.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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 analyst estimates of $11.02 billion. During the same period last year, the firm posted $0.98 EPS. NIKE’s revenue was down 9.1% on a year-over-year basis. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. NIKE’s dividend payout ratio is currently 49.38%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. Bank of America reduced their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Evercore ISI reduced their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Truist Financial cut their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.54.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

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.