NIKE, Inc. (NYSE:NKE) Holdings Lowered by First National Trust Co

First National Trust Co cut its stake in NIKE, Inc. (NYSE:NKE) by 65.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,234 shares of the footwear maker’s stock after selling 34,794 shares during the period. First National Trust Co’s holdings in NIKE were worth $1,980,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NKE. FMR LLC raised its position in NIKE by 0.7% in the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after acquiring an additional 125,746 shares in the last quarter. Northern Trust Corp grew its position in NIKE by 4.5% in the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after buying an additional 674,198 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of NIKE by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after buying an additional 219,091 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of NIKE by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock valued at $766,829,000 after acquiring an additional 89,947 shares during the last quarter. Finally, Newport Trust Company LLC bought a new stake in shares of NIKE during the 3rd quarter worth $679,775,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Williams Trading reaffirmed a “sell” rating and set a $85.00 target price (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Barclays decreased their target price on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Telsey Advisory Group cut their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Morgan Stanley decreased their price objective on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Finally, The Goldman Sachs Group cut their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Performance

Shares of NKE stock traded down $0.26 during trading on Friday, reaching $92.15. The company had a trading volume of 5,736,711 shares, compared to its average volume of 8,740,078. The firm’s 50 day simple moving average is $95.73 and its two-hundred day simple moving average is $103.05. NIKE, Inc. has a one year low of $88.66 and a one year high of $127.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a market capitalization of $139.09 billion, a PE ratio of 27.10, a PEG ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Sell-side analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. NIKE’s payout ratio is presently 43.53%.

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.