Glenview Trust Co Purchases 11,655 Shares of NIKE, Inc. $NKE

Glenview Trust Co grew its position in shares of NIKE, Inc. (NYSE:NKE) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,075 shares of the footwear maker’s stock after buying an additional 11,655 shares during the period. Glenview Trust Co’s holdings in NIKE were worth $8,666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. J. Stern & Co. LLP lifted its holdings in NIKE by 49,010.4% during the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after purchasing an additional 47,956,692 shares during the last quarter. Norges Bank purchased a new position in shares of NIKE in the fourth quarter worth about $829,956,000. Harris Associates L P bought a new stake in shares of NIKE in the second quarter valued at approximately $621,525,000. Capital World Investors raised its position in shares of NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the period. Finally, Jasper Ridge Partners L.P. lifted its stake in shares of NIKE by 2,492.4% during the 4th quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock valued at $311,111,000 after buying an additional 4,694,859 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of several analyst reports. The Goldman Sachs Group cut their price objective on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Evercore set a $46.00 target price on NIKE and gave the stock an “in-line” rating in a research report on Tuesday, June 23rd. Guggenheim restated a “buy” rating and set a $60.00 target price (down from $74.00) on shares of NIKE in a research report on Wednesday, July 1st. Citigroup cut their price target on NIKE from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Finally, Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, NIKE currently has a consensus rating of “Hold” and an average target price of $54.80.

Insider Transactions at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares in the company, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

NYSE:NKE opened at $43.43 on Tuesday. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The stock has a fifty day moving average of $43.69 and a 200 day moving average of $51.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The firm has a market capitalization of $64.31 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 2.53 and a beta of 1.12.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. On average, research analysts expect that NIKE, Inc. will post 1.75 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.8%. NIKE’s payout ratio is presently 78.47%.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).