Mechanics Bank Trust Department Sells 1,120 Shares of NIKE, Inc. (NYSE:NKE)

Mechanics Bank Trust Department trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 7.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 14,579 shares of the footwear maker’s stock after selling 1,120 shares during the quarter. Mechanics Bank Trust Department’s holdings in NIKE were worth $1,099,000 at the end of the most recent reporting period.

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

NIKE Stock Up 0.2 %

NKE traded up $0.15 during trading on Friday, reaching $74.34. The company had a trading volume of 7,186,634 shares, compared to its average volume of 11,417,010. The company has a market cap of $112.21 billion, a P/E ratio of 19.93, a PEG ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The business’s fifty day moving average price is $81.73 and its 200 day moving average price is $91.58.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates 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 period last year, the business posted $0.66 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.99%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research reports. BMO Capital Markets reduced their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Oppenheimer reissued an “outperform” rating and issued a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Finally, UBS Group reiterated a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, NIKE currently has an average rating of “Hold” and a consensus price target of $96.30.

Insider Transactions at NIKE

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