Trust Co. of Vermont Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Trust Co. of Vermont reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,369 shares of the footwear maker's stock after selling 6,775 shares during the period. Trust Co. of Vermont's holdings in NIKE were worth $6,157,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NKE. Garrison Point Advisors LLC lifted its stake in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker's stock valued at $593,000 after acquiring an additional 126 shares during the period. Stephens Consulting LLC increased its stake in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker's stock worth $68,000 after acquiring an additional 128 shares during the period. PSI Advisors LLC lifted its position in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker's stock valued at $55,000 after purchasing an additional 130 shares during the period. Chapin Davis Inc. boosted its holdings in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker's stock valued at $1,010,000 after purchasing an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC grew its position in NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker's stock worth $742,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of several analyst reports. Evercore ISI decreased their price objective on NIKE from $105.00 to $97.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Telsey Advisory Group downgraded NIKE from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $93.00 to $80.00 in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $92.00 to $82.00 and set a "buy" rating for the company in a report on Monday, December 16th. Barclays lowered their price target on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a report on Friday, December 20th. Finally, Guggenheim cut their price objective on shares of NIKE from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus target price of $89.96.

NIKE Trading Down 0.3 %

Shares of NKE traded down $0.22 during mid-day trading on Friday, reaching $70.89. The stock had a trading volume of 9,688,434 shares, compared to its average volume of 11,668,856. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The firm has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. The business's fifty day moving average is $75.77 and its 200 day moving average is $77.92. 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 (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.11 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The business's revenue for the quarter was down 7.7% on a year-over-year basis. On average, sell-side analysts predict that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. This is an increase from NIKE's previous quarterly dividend of $0.37. NIKE's payout ratio is currently 49.38%.

Insider Activity

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company's stock.

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.