Bath Savings Trust Co Sells 12,961 Shares of NIKE, Inc. (NYSE:NKE)

Bath Savings Trust Co lessened its stake in NIKE, Inc. (NYSE:NKE) by 8.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,617 shares of the footwear maker’s stock after selling 12,961 shares during the period. Bath Savings Trust Co’s holdings in NIKE were worth $8,926,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after acquiring an additional 160,980 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of NIKE by 10.6% in the 4th quarter. Foundations Investment Advisors LLC now owns 5,314 shares of the footwear maker’s stock valued at $402,000 after purchasing an additional 510 shares during the last quarter. Hanson & Doremus Investment Management boosted its stake in shares of NIKE by 47.4% in the 4th quarter. Hanson & Doremus Investment Management now owns 746 shares of the footwear maker’s stock valued at $56,000 after purchasing an additional 240 shares during the last quarter. Milestone Asset Management LLC boosted its stake in shares of NIKE by 55.3% in the 4th quarter. Milestone Asset Management LLC now owns 110,488 shares of the footwear maker’s stock valued at $8,361,000 after purchasing an additional 39,324 shares during the last quarter. Finally, Gries Financial LLC bought a new stake in shares of NIKE during the fourth quarter worth approximately $1,619,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

Shares of NKE opened at $61.43 on Friday. The stock has a market capitalization of $90.86 billion, a P/E ratio of 18.96, a P/E/G ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a 50 day moving average of $59.20 and a 200-day moving average of $69.78. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

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

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. UBS Group dropped their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Guggenheim restated a “buy” rating and issued a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. China Renaissance began coverage on NIKE in a report on Wednesday, March 19th. They issued a “hold” rating for the company. Finally, Needham & Company LLC dropped their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 17th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.26.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

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.