Wilmington Savings Fund Society FSB Sells 28,687 Shares of NIKE, Inc. $NKE

Wilmington Savings Fund Society FSB trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 21.6% during the third quarter, HoldingsChannel.com reports. The firm owned 104,431 shares of the footwear maker’s stock after selling 28,687 shares during the period. Wilmington Savings Fund Society FSB’s holdings in NIKE were worth $7,282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in NIKE by 697.5% in the third quarter. Exchange Traded Concepts LLC now owns 228,889 shares of the footwear maker’s stock valued at $15,960,000 after purchasing an additional 200,187 shares during the period. Strive Asset Management LLC acquired a new position in NIKE during the 3rd quarter worth about $1,743,000. Soros Fund Management LLC grew its position in shares of NIKE by 33.0% in the 2nd quarter. Soros Fund Management LLC now owns 302,320 shares of the footwear maker’s stock valued at $21,477,000 after buying an additional 75,000 shares during the last quarter. Brighton Jones LLC grew its position in shares of NIKE by 54.6% in the 3rd quarter. Brighton Jones LLC now owns 104,791 shares of the footwear maker’s stock valued at $7,307,000 after buying an additional 37,019 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD increased its stake in shares of NIKE by 106.1% in the third quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 205,082 shares of the footwear maker’s stock valued at $14,343,000 after buying an additional 105,569 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NKE. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Stifel Nicolaus set a $65.00 target price on NIKE and gave the company a “hold” rating in a report on Friday, December 19th. Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a research report on Thursday, March 5th. BTIG Research restated a “buy” rating and set a $100.00 price target on shares of NIKE in a report on Tuesday, January 27th. Finally, Daiwa Securities Group dropped their price target on shares of NIKE from $75.00 to $61.00 in a research report on Tuesday, December 23rd. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.90.

NIKE Stock Up 0.6%

Shares of NYSE:NKE opened at $55.11 on Wednesday. The business’s 50-day moving average is $62.13 and its 200-day moving average is $65.20. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $80.17. The company has a market capitalization of $81.58 billion, a price-to-earnings ratio of 32.42, a P/E/G ratio of 2.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, March 2nd. NIKE’s dividend payout ratio is currently 96.47%.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,691 shares of the stock in a transaction on Monday, December 22nd. The shares were acquired at an average price of $57.54 per share, with a total value of $500,080.14. Following the acquisition, the director directly owned 43,293 shares of the company’s stock, valued at $2,491,079.22. The trade was a 25.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy D. Cook purchased 50,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were bought at an average price of $58.97 per share, for a total transaction of $2,948,500.00. Following the completion of the transaction, the director owned 105,480 shares of the company’s stock, valued at approximately $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 75,079 shares of company stock worth $4,449,887 in the last quarter. Insiders own 0.80% of the company’s stock.

NIKE 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).