Wilmington Savings Fund Society FSB Has $7.28 Million Holdings in NIKE, Inc. $NKE

Wilmington Savings Fund Society FSB trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 21.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,431 shares of the footwear maker’s stock after selling 28,687 shares during the period. Wilmington Savings Fund Society FSB’s holdings in NIKE were worth $7,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Caxton Associates LLP bought a new stake in shares of NIKE during the 1st quarter worth about $311,000. United Bank grew its stake in NIKE by 11.3% in the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after buying an additional 1,736 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in NIKE by 3.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 5,269 shares of the footwear maker’s stock valued at $374,000 after buying an additional 159 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in NIKE by 24.3% in the 2nd quarter. Cetera Investment Advisers now owns 250,803 shares of the footwear maker’s stock valued at $17,817,000 after acquiring an additional 48,953 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Trading Up 0.6%

Shares of NIKE stock opened at $55.11 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $81.58 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 2.80 and a beta of 1.27. The firm’s 50-day moving average price is $62.13 and its two-hundred day moving average price is $65.20. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.19 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, March 2nd. NIKE’s dividend payout ratio (DPR) is presently 96.47%.

Insider Activity

In related news, CEO Elliott Hill bought 16,388 shares of the business’s stock in a transaction on Monday, December 29th. The shares were purchased at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the transaction, the chief executive officer directly owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. This represents a 7.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Timothy D. Cook bought 50,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were bought at an average cost of $58.97 per share, for a total transaction of $2,948,500.00. Following the purchase, the director owned 105,480 shares of the company’s stock, valued at approximately $6,220,155.60. The trade was a 90.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 75,079 shares of company stock worth $4,449,887. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NKE. Sanford C. Bernstein restated a “buy” rating on shares of NIKE in a research report on Thursday, March 5th. Barclays raised NIKE from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $64.00 to $73.00 in a research report on Wednesday, March 11th. UBS Group reissued a “neutral” rating on shares of NIKE in a report on Monday, January 5th. Robert W. Baird reduced their price target on NIKE from $93.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, December 19th. Finally, KeyCorp decreased their price objective on NIKE from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Twenty-three research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $74.90.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).