Nike, Inc. (NKE) Shares Sold by Private Trust Co. NA
Private Trust Co. NA decreased its holdings in shares of Nike, Inc. (NYSE:NKE) by 3.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,913 shares of the footwear maker’s stock after selling 615 shares during the period. Private Trust Co. NA’s holdings in Nike were worth $938,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. State Street Corp grew its stake in shares of Nike by 1.4% during the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock worth $3,319,086,000 after acquiring an additional 835,003 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Nike by 5.0% during the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after acquiring an additional 2,375,447 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Nike by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock worth $1,621,066,000 after acquiring an additional 144,846 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Nike by 124.7% during the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after acquiring an additional 13,953,567 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Nike by 9.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock worth $706,617,000 after acquiring an additional 1,130,409 shares during the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.
Nike, Inc. (NYSE NKE) traded up 0.26% during mid-day trading on Friday, hitting $53.33. The stock had a trading volume of 5,295,249 shares. The company has a 50-day moving average price of $55.57 and a 200 day moving average price of $55.39. The company has a market cap of $87.63 billion, a P/E ratio of 21.25 and a beta of 0.61. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.53.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same period in the previous year, the firm posted $0.49 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts forecast that Nike, Inc. will post $2.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.35%. Nike’s dividend payout ratio (DPR) is presently 28.69%.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now directly owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Campion sold 96,243 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the sale, the chief financial officer now directly owns 50,246 shares in the company, valued at $2,847,943.28. The disclosure for this sale can be found here. Insiders have sold a total of 508,360 shares of company stock worth $29,340,374 over the last three months. Insiders own 3.90% of the company’s stock.
A number of equities research analysts have recently weighed in on NKE shares. Canaccord Genuity set a $51.00 price target on Nike and gave the stock a “hold” rating in a research note on Friday, May 26th. Piper Jaffray Companies set a $50.00 price target on Nike and gave the stock a “hold” rating in a research note on Thursday, June 1st. Zacks Investment Research lowered Nike from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Vetr lowered Nike from a “buy” rating to a “hold” rating and set a $54.16 price target on the stock. in a research note on Monday, June 5th. Finally, Morgan Stanley restated a “neutral” rating and set a $56.00 price target on shares of Nike in a research note on Wednesday, June 7th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $60.04.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike, Inc. (NYSE:NKE).
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.