Raymond James Trust N.A. Lowers Stock Position in NIKE, Inc. (NYSE:NKE)
Raymond James Trust N.A. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 50,480 shares of the footwear maker’s stock after selling 1,085 shares during the period. Raymond James Trust N.A.’s holdings in NIKE were worth $7,142,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in NKE. Principal Financial Group Inc. lifted its position in shares of NIKE by 30.7% in the 2nd quarter. Principal Financial Group Inc. now owns 3,581,385 shares of the footwear maker’s stock worth $351,155,000 after purchasing an additional 841,840 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of NIKE by 141.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 31,724 shares of the footwear maker’s stock worth $3,111,000 after acquiring an additional 18,583 shares in the last quarter. FormulaFolio Investments LLC bought a new position in shares of NIKE during the 2nd quarter worth approximately $210,000. WealthPLAN Partners LLC raised its stake in shares of NIKE by 7.4% during the 2nd quarter. WealthPLAN Partners LLC now owns 2,564 shares of the footwear maker’s stock worth $273,000 after acquiring an additional 176 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of NIKE by 19.6% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 5,366 shares of the footwear maker’s stock worth $526,000 after acquiring an additional 880 shares in the last quarter. 55.61% of the stock is owned by hedge funds and other institutional investors.
NKE traded down $2.01 during midday trading on Wednesday, hitting $143.04. 3,212,191 shares of the company traded hands, compared to its average volume of 4,610,482. The company has a current ratio of 2.55, a quick ratio of 1.77 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $224.55 billion, a price-to-earnings ratio of 85.65, a PEG ratio of 2.76 and a beta of 0.84. NIKE, Inc. has a 52-week low of $60.00 and a 52-week high of $147.95. The business has a 50 day simple moving average of $139.88 and a two-hundred day simple moving average of $120.86.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 29th. Shareholders of record on Monday, December 7th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.77%. This is an increase from NIKE’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, December 4th. NIKE’s dividend payout ratio (DPR) is presently 59.46%.
Several research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of NIKE from $95.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 22nd. KeyCorp started coverage on shares of NIKE in a research note on Friday, December 11th. They set an “overweight” rating and a $174.00 price target on the stock. Pivotal Research upped their price target on shares of NIKE from $118.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. UBS Group restated a “buy” rating and set a $167.00 price target on shares of NIKE in a research note on Monday, December 14th. Finally, Telsey Advisory Group upped their price target on shares of NIKE from $155.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, December 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $153.85.
In other NIKE news, VP Chris L. Abston sold 20,000 shares of the stock in a transaction dated Wednesday, December 30th. The shares were sold at an average price of $142.16, for a total value of $2,843,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Hilary K. Krane sold 5,670 shares of the firm’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $123.30, for a total transaction of $699,111.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 450,170 shares of company stock worth $63,160,981. Insiders own 3.80% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
Further Reading: Intrinsic Value
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