Argent Trust Co Trims Stock Holdings in NIKE, Inc. (NYSE:NKE)

Argent Trust Co decreased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,092 shares of the footwear maker's stock after selling 4,767 shares during the quarter. Argent Trust Co's holdings in NIKE were worth $2,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of NIKE during the 4th quarter worth approximately $1,126,288,000. Wellington Management Group LLP increased its stake in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock worth $516,166,000 after acquiring an additional 6,709,985 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of NIKE by 18.1% in the fourth 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, Renaissance Technologies LLC grew its stake in NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after buying an additional 2,416,601 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms recently weighed in on NKE. Royal Bank of Canada dropped their price target on NIKE from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Friday, March 21st. Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, December 20th. BMO Capital Markets decreased their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Robert W. Baird cut their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, China Renaissance assumed coverage on NIKE in a report on Wednesday, March 19th. They set a "hold" rating on the stock. Sixteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $85.15.

Insider Activity

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

NIKE Stock Performance

NYSE NKE traded down $0.91 during trading hours on Tuesday, hitting $54.50. 6,969,162 shares of the company's stock traded hands, compared to its average volume of 14,066,454. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The firm has a market capitalization of $80.61 billion, a P/E ratio of 16.82, a P/E/G ratio of 2.52 and a beta of 1.15. The business's fifty day moving average price is $69.65 and its two-hundred day moving average price is $74.59.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share. Equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. NIKE's payout ratio is currently 53.16%.

About NIKE

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.