FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $1.52 Million Stock Position in NIKE, Inc. (NYSE:NKE)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its position in NIKE, Inc. (NYSE:NKE) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,124 shares of the footwear maker’s stock after selling 3,874 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in NIKE were worth $1,523,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Canoe Financial LP increased its holdings in NIKE by 1.1% in the fourth quarter. Canoe Financial LP now owns 111,720 shares of the footwear maker’s stock worth $8,454,000 after buying an additional 1,200 shares during the last quarter. Brooklyn Investment Group grew its position in NIKE by 28.5% in the fourth quarter. Brooklyn Investment Group now owns 5,092 shares of the footwear maker’s stock worth $385,000 after acquiring an additional 1,130 shares in the last quarter. Somerset Trust Co raised its holdings in shares of NIKE by 5.7% during the 4th quarter. Somerset Trust Co now owns 21,474 shares of the footwear maker’s stock valued at $1,625,000 after purchasing an additional 1,159 shares in the last quarter. Chemistry Wealth Management LLC raised its holdings in shares of NIKE by 4.0% during the 4th quarter. Chemistry Wealth Management LLC now owns 39,692 shares of the footwear maker’s stock valued at $3,003,000 after purchasing an additional 1,539 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC lifted its stake in shares of NIKE by 16.4% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 2,953 shares of the footwear maker’s stock valued at $223,000 after purchasing an additional 416 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NIKE stock opened at $70.89 on Friday. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market cap of $104.85 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. The firm’s 50-day simple moving average is $75.87 and its 200-day simple moving average is $77.96.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, research analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Morgan Stanley cut their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $93.00 to $80.00 in a report on Friday, December 20th. Robert W. Baird lowered their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, Barclays reduced their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.96.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

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.