WASHINGTON TRUST Co Trims Stock Position in NIKE, Inc. (NYSE:NKE)

WASHINGTON TRUST Co cut its position in shares of NIKE, Inc. (NYSE:NKE) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,526 shares of the footwear maker’s stock after selling 935 shares during the period. WASHINGTON TRUST Co’s holdings in NIKE were worth $793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Norges Bank acquired a new stake in shares of NIKE during the fourth quarter worth $1,315,097,000. Price T Rowe Associates Inc. MD raised its position in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Capital International Investors increased its position in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD purchased a new position in shares of NIKE in the first quarter valued at $533,533,000. Finally, Capital World Investors increased its position in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on NKE shares. TD Cowen dropped their price objective on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 price target (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Citigroup decreased their price target on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.30.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by insiders.

NIKE Stock Performance

NKE stock traded up $3.84 during trading on Tuesday, reaching $78.48. 16,416,049 shares of the company’s stock were exchanged, compared to its average volume of 11,421,249. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company’s fifty day moving average price is $81.34 and its 200-day moving average price is $91.40. The firm has a market cap of $118.45 billion, a PE ratio of 20.91, a P/E/G ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share 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 analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. On average, research analysts expect that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.