NIKE, Inc. (NYSE:NKE) Stake Decreased by Enterprise Bank & Trust Co

Enterprise Bank & Trust Co lessened its stake in NIKE, Inc. (NYSE:NKE) by 14.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,690 shares of the footwear maker’s stock after selling 3,828 shares during the quarter. Enterprise Bank & Trust Co’s holdings in NIKE were worth $1,717,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter worth $30,000. VitalStone Financial LLC grew its position in 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 buying an additional 150 shares during the last quarter. Dunhill Financial LLC raised its position in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Ecofi Investissements SA purchased a new stake in shares of NIKE during the second quarter valued at $49,000. Finally, Riverview Trust Co acquired a new position in shares of NIKE in the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Nicolaus reduced their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. UBS Group reissued a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Wells Fargo & Company decreased their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Sanford C. Bernstein dropped their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Finally, Guggenheim dropped their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Stock Performance

NIKE stock traded up $1.25 during mid-day trading on Monday, reaching $72.45. The company had a trading volume of 9,484,851 shares, compared to its average volume of 11,842,324. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $76.29 and a 200-day moving average of $78.25. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $107.43. The firm has a market cap of $107.16 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. On average, sell-side analysts expect that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. NIKE’s dividend payout ratio is currently 49.38%.

Insider Transactions at NIKE

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

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.