Arlington Trust Co LLC Has $332,000 Holdings in NIKE, Inc. (NYSE:NKE)

Arlington Trust Co LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 49.1% during the third quarter, HoldingsChannel reports. The firm owned 3,752 shares of the footwear maker’s stock after selling 3,623 shares during the period. Arlington Trust Co LLC’s holdings in NIKE were worth $332,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NKE. Kovack Advisors Inc. increased its position in shares of NIKE by 24.5% during the 1st quarter. Kovack Advisors Inc. now owns 2,469 shares of the footwear maker’s stock valued at $232,000 after purchasing an additional 486 shares during the last quarter. Private Advisor Group LLC lifted its position in NIKE by 3.6% during the first quarter. Private Advisor Group LLC now owns 62,372 shares of the footwear maker’s stock valued at $5,862,000 after purchasing an additional 2,196 shares during the last quarter. Prosperity Consulting Group LLC purchased a new position in NIKE in the first quarter worth $275,000. Resonant Capital Advisors LLC raised its holdings in shares of NIKE by 18.6% during the 1st quarter. Resonant Capital Advisors LLC now owns 4,235 shares of the footwear maker’s stock valued at $400,000 after buying an additional 664 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. lifted its holdings in shares of NIKE by 109.5% in the 1st quarter. BW Gestao de Investimentos Ltda. now owns 12,973 shares of the footwear maker’s stock worth $1,219,000 after acquiring an additional 150,000 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of several research analyst reports. TD Cowen boosted their target price on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus reduced their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. JPMorgan Chase & Co. cut their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Finally, Wells Fargo & Company raised their price objective on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Up 1.2 %

Shares of NKE traded up $0.93 during mid-day trading on Friday, hitting $78.06. 9,623,692 shares of the company’s stock were exchanged, compared to its average volume of 11,584,282. The company has a market cap of $117.04 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 1.86 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock’s 50-day moving average is $82.12 and its 200-day moving average is $84.51.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

About NIKE

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.