Bar Harbor Trust Services Acquires 570 Shares of NIKE, Inc. (NYSE:NKE)

Bar Harbor Trust Services increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.1% in the second quarter, Holdings Channel.com reports. The fund owned 8,579 shares of the footwear maker’s stock after buying an additional 570 shares during the quarter. Bar Harbor Trust Services’ holdings in NIKE were worth $1,325,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NKE. OLD Mission Capital LLC bought a new stake in shares of NIKE during the 3rd quarter worth approximately $338,000. Jackson Hole Capital Partners LLC bought a new stake in shares of NIKE during the 1st quarter worth approximately $312,000. Sowell Financial Services LLC lifted its stake in shares of NIKE by 29.6% during the 1st quarter. Sowell Financial Services LLC now owns 15,386 shares of the footwear maker’s stock worth $2,054,000 after acquiring an additional 3,514 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in shares of NIKE by 40.6% during the 1st quarter. Meridian Wealth Management LLC now owns 5,896 shares of the footwear maker’s stock worth $784,000 after acquiring an additional 1,702 shares during the last quarter. Finally, Kingfisher Capital LLC lifted its stake in shares of NIKE by 5.6% during the 1st quarter. Kingfisher Capital LLC now owns 23,196 shares of the footwear maker’s stock worth $3,082,000 after acquiring an additional 1,236 shares during the last quarter. 64.45% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Heidi O’neill sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $152.00, for a total value of $3,800,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 140,000 shares of the company’s stock in a transaction that occurred on Thursday, July 8th. The shares were sold at an average price of $160.16, for a total value of $22,422,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 379,671 shares of company stock valued at $60,634,427. 3.70% of the stock is owned by company insiders.

A number of brokerages recently issued reports on NKE. Guggenheim raised their price target on NIKE from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, June 25th. KGI Securities started coverage on NIKE in a report on Tuesday, July 6th. They set an “outperform” rating on the stock. Argus raised their price objective on NIKE from $174.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, July 14th. Cowen raised their price objective on NIKE from $145.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. They noted that the move was a valuation call. Finally, Piper Sandler raised their price objective on NIKE from $170.00 to $174.00 and gave the stock an “overweight” rating in a report on Friday, June 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $173.03.

Shares of NIKE stock traded up $0.64 on Tuesday, hitting $154.89. The company’s stock had a trading volume of 116,651 shares, compared to its average volume of 6,297,217. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.01 and a current ratio of 2.72. NIKE, Inc. has a 1 year low of $111.74 and a 1 year high of $174.38. The firm has a fifty day moving average price of $165.42 and a 200-day moving average price of $147.23. The company has a market capitalization of $245.01 billion, a price-to-earnings ratio of 43.43, a price-to-earnings-growth ratio of 2.49 and a beta of 0.87.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Wednesday, June 23rd. The footwear maker reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.42. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The company had revenue of $12.30 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business earned ($0.51) EPS. NIKE’s quarterly revenue was up 94.8% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 4.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Monday, August 30th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 27th. This represents a $1.10 annualized dividend and a yield of 0.71%. NIKE’s dividend payout ratio (DPR) is currently 30.90%.

NIKE Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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