Newport Trust Company LLC Sells 219,490 Shares of NIKE, Inc. $NKE

Newport Trust Company LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 3.6% during the 1st quarter, HoldingsChannel reports. The fund owned 5,849,978 shares of the footwear maker’s stock after selling 219,490 shares during the quarter. NIKE comprises 1.0% of Newport Trust Company LLC’s holdings, making the stock its 21st biggest position. Newport Trust Company LLC’s holdings in NIKE were worth $371,357,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NKE. Goldman Sachs Group Inc. grew its stake in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of NIKE in the first quarter worth $509,051,000. Nuveen LLC purchased a new stake in shares of NIKE in the first quarter worth $502,285,000. Finally, Vanguard Group Inc. grew its stake in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 0.2%

Shares of NYSE:NKE opened at $76.10 on Friday. The stock has a market capitalization of $112.39 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock’s 50-day simple moving average is $72.15 and its two-hundred day simple moving average is $67.68. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period last year, the firm posted $0.99 earnings per share. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. NIKE’s dividend payout ratio is presently 74.07%.

Analysts Set New Price Targets

A number of research firms have recently commented on NKE. The Goldman Sachs Group increased their target price on NIKE from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Hsbc Global Res raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Wells Fargo & Company upped their price target on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Robert W. Baird upped their price target on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Finally, Barclays upped their price target on NIKE from $53.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.22.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by 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.