Coastline Trust Co Sells 390 Shares of NIKE, Inc. (NYSE:NKE)

Coastline Trust Co cut its stake in NIKE, Inc. (NYSE:NKE) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,400 shares of the footwear maker’s stock after selling 390 shares during the period. Coastline Trust Co’s holdings in NIKE were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JNBA Financial Advisors boosted its stake in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after buying an additional 131 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after acquiring an additional 136 shares during the period. Elgethun Capital Management raised its stake in NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after acquiring an additional 149 shares during the period. GAMMA Investing LLC lifted its stake in NIKE by 1.0% in the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after purchasing an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC increased its stake in NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NKE shares. Royal Bank of Canada cut their price target on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Friday, March 21st. Guggenheim reaffirmed a “buy” rating and issued a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. Berenberg Bank initiated coverage on NIKE in a report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 price objective on the stock. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $102.00 to $72.00 in a report on Friday, February 7th. Finally, BMO Capital Markets decreased their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Sixteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.15.

NIKE Stock Performance

Shares of NIKE stock opened at $55.73 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The firm has a market cap of $82.44 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.52 and a beta of 1.15. The firm has a 50 day simple moving average of $68.39 and a 200 day simple moving average of $73.79.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the firm earned $0.98 earnings per share. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio is 53.16%.

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.