Legacy Trust Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Legacy Trust lowered its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 29.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,281 shares of the footwear maker's stock after selling 13,579 shares during the period. Legacy Trust's holdings in NIKE were worth $2,518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the third quarter worth approximately $30,000. VitalStone Financial LLC lifted its position in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock worth $38,000 after buying an additional 150 shares in the last quarter. Dunhill Financial LLC boosted its stake in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker's stock valued at $44,000 after buying an additional 169 shares during the period. Riverview Trust Co acquired a new position in shares of NIKE in the third quarter worth $52,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of NIKE in the third quarter worth $54,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley decreased their target price on shares of NIKE from $80.00 to $74.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. JPMorgan Chase & Co. reduced their price objective on NIKE from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Monday, December 2nd. Telsey Advisory Group lowered NIKE from an "outperform" rating to a "market perform" rating and cut their target price for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Needham & Company LLC reiterated a "buy" rating and set a $84.00 price target on shares of NIKE in a research note on Friday, December 20th. Finally, Robert W. Baird reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an "outperform" rating for the company in a report on Monday, December 23rd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average target price of $89.96.

NIKE Stock Performance

NKE traded up $1.70 during trading on Thursday, hitting $78.28. 10,866,969 shares of the company traded hands, compared to its average volume of 12,160,132. The firm has a market cap of $115.79 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. The stock's fifty day moving average is $75.55 and its 200 day moving average is $77.95.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to analysts' expectations of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. NIKE's revenue was down 7.7% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. This is an increase from NIKE's previous quarterly dividend of $0.37. NIKE's dividend payout ratio is currently 49.38%.

Insider Activity

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business's stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

NIKE Profile

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.