Glenview Trust Co Increases Stake in NIKE, Inc. $NKE

Glenview Trust Co raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 164,075 shares of the footwear maker’s stock after acquiring an additional 11,655 shares during the period. Glenview Trust Co’s holdings in NIKE were worth $8,666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Westerkirk Capital Inc. increased its holdings in NIKE by 52.4% during the fourth quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock valued at $8,360,000 after buying an additional 45,100 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in NIKE by 77.9% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker’s stock worth $160,943,000 after acquiring an additional 1,106,499 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in shares of NIKE during the 4th quarter worth $43,188,000. Nicholas Company Inc. boosted its stake in shares of NIKE by 33.3% during the 4th quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock worth $7,878,000 after acquiring an additional 30,890 shares during the last quarter. Finally, Stoneridge Investment Partners LLC grew its position in shares of NIKE by 1,253.6% during the 4th quarter. Stoneridge Investment Partners LLC now owns 78,846 shares of the footwear maker’s stock valued at $5,023,000 after acquiring an additional 73,021 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is currently owned by insiders.

NIKE Stock Down 0.8%

NKE opened at $43.43 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17. The firm’s fifty day moving average is $43.69 and its 200 day moving average is $51.66. The stock has a market cap of $64.31 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.53 and a beta of 1.12.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. During the same quarter in the prior year, the business posted $0.14 EPS. NIKE’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that NIKE, Inc. will post 1.75 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Berenberg Bank set a $49.00 price objective on NIKE in a research note on Friday, July 3rd. Robert W. Baird reiterated an “outperform” rating and set a $70.00 target price on shares of NIKE in a research report on Wednesday, July 1st. Sanford C. Bernstein set a $72.00 price target on NIKE and gave the company an “outperform” rating in a report on Wednesday, July 1st. DA Davidson cut NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $72.00 to $46.00 in a research report on Thursday, April 2nd. Finally, Bank of America decreased their price objective on NIKE from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of “Hold” and a consensus price target of $54.80.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).