NIKE, Inc. (NYSE:NKE) Position Trimmed by CENTRAL TRUST Co

CENTRAL TRUST Co reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,408 shares of the footwear maker’s stock after selling 561 shares during the quarter. CENTRAL TRUST Co’s holdings in NIKE were worth $3,328,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC lifted its stake in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC boosted its holdings in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new position in NIKE during the fourth quarter worth $29,000. True Wealth Design LLC raised its holdings in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter worth about $33,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock valued at $19,946,333 over the last ninety days. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Truist Financial reissued a “hold” rating and issued a $111.00 price objective on shares of NIKE in a research note on Tuesday, March 19th. Jefferies Financial Group decreased their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Telsey Advisory Group dropped their target price 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. Barclays cut their target price on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Finally, Morgan Stanley lowered their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

NKE stock traded down $0.31 during trading on Wednesday, hitting $92.51. 7,610,495 shares of the stock traded hands, compared to its average volume of 9,256,364. The stock has a market cap of $139.62 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 1.77 and a beta of 1.07. NIKE, Inc. has a one year low of $88.66 and a one year high of $123.39. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company has a 50 day simple moving average of $93.49 and a 200 day simple moving average of $102.11.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Equities analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced 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 of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.60%. NIKE’s dividend payout ratio (DPR) 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.