NIKE, Inc. (NYSE:NKE) Shares Sold by Arlington Trust Co LLC

Arlington Trust Co LLC cut its position in NIKE, Inc. (NYSE:NKE) by 17.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,375 shares of the footwear maker’s stock after selling 1,575 shares during the quarter. Arlington Trust Co LLC’s holdings in NIKE were worth $556,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Annapolis Financial Services LLC lifted its position in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC lifted its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter worth approximately $33,000. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE during the 4th quarter worth approximately $36,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Jefferies Financial Group cut their target price on NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Wedbush cut their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Evercore ISI dropped their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.59.

NIKE Stock Performance

Shares of NKE stock opened at $80.63 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $76.94 and a two-hundred day moving average of $88.68. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a market cap of $121.70 billion, a P/E ratio of 21.62, a PEG ratio of 2.19 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, analysts anticipate that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.84%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.