Argent Trust Co trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 4.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,674 shares of the footwear maker’s stock after selling 1,603 shares during the period. Argent Trust Co’s holdings in NIKE were worth $4,007,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. America First Investment Advisors LLC acquired a new stake in NIKE during the 1st quarter valued at $27,000. Tucker Asset Management LLC acquired a new stake in shares of NIKE in the 1st quarter valued at $29,000. Financial Freedom LLC acquired a new stake in shares of NIKE in the 4th quarter valued at $29,000. Ruedi Wealth Management Inc. acquired a new stake in shares of NIKE in the 4th quarter valued at $30,000. Finally, Worth Asset Management LLC acquired a new stake in shares of NIKE in the 1st quarter valued at $32,000. 63.42% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, EVP Monique S. Matheson sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total transaction of $4,343,600.00. Following the sale, the executive vice president now owns 44,736 shares in the company, valued at $4,857,882.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total transaction of $11,943,800.00. Following the transaction, the chairman now owns 1,334,781 shares of the company’s stock, valued at $144,930,520.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total value of $4,343,600.00. Following the transaction, the executive vice president now directly owns 44,736 shares in the company, valued at approximately $4,857,882.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,251 shares of company stock worth $17,063,257. Corporate insiders own 0.50% of the company’s stock.
NIKE Stock Down 1.6 %
NIKE (NYSE:NKE – Get Free Report) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). NIKE had a return on equity of 34.01% and a net margin of 9.90%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.58 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 3.71 EPS for the current fiscal year.
NIKE Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.36 annualized dividend and a yield of 1.35%. NIKE’s payout ratio is presently 42.11%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Williams Trading cut NIKE from a “hold” rating to a “sell” rating in a research note on Sunday, May 21st. Stifel Nicolaus lowered their target price on NIKE from $143.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, August 28th. UBS Group lifted their target price on NIKE from $145.00 to $150.00 in a research note on Friday, June 30th. OTR Global cut NIKE to a “positive” rating in a research note on Tuesday, June 20th. Finally, VNET Group reaffirmed a “maintains” rating on shares of NIKE in a research note on Friday, June 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.68.
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.
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