Hilltop National Bank Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Hilltop National Bank trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 86.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,145 shares of the footwear maker’s stock after selling 7,156 shares during the quarter. Hilltop National Bank’s holdings in NIKE were worth $86,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NKE. Physicians Financial Services Inc. boosted its holdings in shares of NIKE by 0.6% in the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after buying an additional 100 shares during the period. ZWJ Investment Counsel Inc. boosted its holdings in shares of NIKE by 4.0% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after buying an additional 100 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in shares of NIKE by 0.4% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after buying an additional 100 shares during the period. J.Safra Asset Management Corp boosted its holdings in shares of NIKE by 12.9% in the 4th quarter. J.Safra Asset Management Corp now owns 883 shares of the footwear maker’s stock valued at $96,000 after buying an additional 101 shares during the period. Finally, Beta Wealth Group Inc. boosted its holdings in shares of NIKE by 2.3% in the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 278,660 shares of company stock valued at $23,735,833. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Citigroup decreased their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. Robert W. Baird reduced their target price on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Raymond James reissued a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Evercore ISI reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.30.

NIKE Price Performance

NKE stock traded up $0.12 on Wednesday, hitting $72.62. 9,328,241 shares of the company’s stock traded hands, compared to its average volume of 11,462,008. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $109.61 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 1.92 and a beta of 1.01. The stock has a fifty day moving average of $82.92 and a 200-day moving average of $92.16. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, analysts forecast that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

NIKE Company 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.