Plimoth Trust Co. LLC Sells 1,182 Shares of NIKE, Inc. (NYSE:NKE)

Plimoth Trust Co. LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,983 shares of the footwear maker’s stock after selling 1,182 shares during the period. Plimoth Trust Co. LLC’s holdings in NIKE were worth $2,269,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the third quarter worth $30,000. VitalStone Financial LLC grew its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the period. Dunhill Financial LLC grew its holdings in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the period. Riverview Trust Co purchased a new position in NIKE during the third quarter valued at $52,000. Finally, Catalyst Capital Advisors LLC purchased a new position in NIKE during the third quarter valued at $54,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of several analyst reports. Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Guggenheim lowered their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Robert W. Baird lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Finally, Barclays lowered their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

NIKE Stock Performance

NKE traded up $0.48 on Wednesday, reaching $74.87. 912,045 shares of the stock were exchanged, compared to its average volume of 11,606,857. The company’s 50-day moving average price is $75.48 and its 200 day moving average price is $77.96. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market capitalization of $110.74 billion, a PE ratio of 23.15, a PEG ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 49.38%.

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.