NIKE, Inc. $NKE Shares Sold by Huntington National Bank

Huntington National Bank cut its holdings in NIKE, Inc. (NYSE:NKE) by 9.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 128,829 shares of the footwear maker’s stock after selling 13,484 shares during the quarter. Huntington National Bank’s holdings in NIKE were worth $9,152,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of NKE. Goldman Sachs Group Inc. increased its stake in NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the period. Wellington Management Group LLP increased its stake in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Jennison Associates LLC purchased a new position in NIKE during the first quarter worth about $509,051,000. Nuveen LLC purchased a new position in NIKE during the first quarter worth about $502,285,000. Finally, Vanguard Group Inc. raised its holdings in NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NKE has been the subject of several analyst reports. Stifel Nicolaus set a $68.00 price target on shares of NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. BTIG Research initiated coverage on shares of NIKE in a report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $78.00 price target on shares of NIKE in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

Insider Activity at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Down 2.4%

NIKE stock opened at $61.18 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm has a market capitalization of $90.43 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The stock’s fifty day moving average is $70.61 and its two-hundred day moving average is $68.50.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.6%. NIKE’s dividend payout ratio is currently 82.05%.

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.