Evercore Wealth Management LLC Trims Stake in NIKE, Inc. (NYSE:NKE)

Evercore Wealth Management LLC decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 28.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,579 shares of the footwear maker's stock after selling 33,819 shares during the quarter. Evercore Wealth Management LLC's holdings in NIKE were worth $6,476,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Syon Capital LLC increased its holdings in NIKE by 48.4% in the 4th quarter. Syon Capital LLC now owns 9,907 shares of the footwear maker's stock worth $750,000 after purchasing an additional 3,230 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of NIKE by 79.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 173,792 shares of the footwear maker's stock worth $13,151,000 after purchasing an additional 77,044 shares during the last quarter. MGO One Seven LLC raised its holdings in NIKE by 55.3% in the 4th quarter. MGO One Seven LLC now owns 26,027 shares of the footwear maker's stock valued at $1,969,000 after buying an additional 9,268 shares during the last quarter. Alta Advisers Ltd boosted its position in NIKE by 16.5% during the 4th quarter. Alta Advisers Ltd now owns 3,961 shares of the footwear maker's stock worth $300,000 after buying an additional 561 shares during the period. Finally, Manchester Global Management UK Ltd bought a new stake in NIKE during the 4th quarter worth approximately $37,656,000. Institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. Royal Bank of Canada reduced their price objective on shares of NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Friday, March 21st. Cfra Research raised NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Telsey Advisory Group restated a "market perform" rating and issued a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Citigroup cut shares of NIKE from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Finally, Bank of America cut their target price on NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday. Sixteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $82.81.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value 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 approximately $1,869,726.18. This represents a 36.78 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

NIKE Trading Down 1.9 %

NIKE stock traded down $1.13 during mid-day trading on Friday, hitting $57.35. The company's stock had a trading volume of 2,141,568 shares, compared to its average volume of 14,300,763. The stock has a market cap of $84.83 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The business has a 50 day moving average price of $67.15 and a 200-day moving average price of $73.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is presently 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.