Huntington National Bank Sells 13,011 Shares of NIKE, Inc. $NKE

Huntington National Bank reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 13.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,226 shares of the footwear maker’s stock after selling 13,011 shares during the quarter. Huntington National Bank’s holdings in NIKE were worth $5,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Main Street Financial Solutions LLC increased its stake in NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after purchasing an additional 139 shares in the last quarter. Diligent Investors LLC increased its stake in NIKE by 4.3% during the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after purchasing an additional 153 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in NIKE by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 163 shares in the last quarter. Lakeshore Capital Group Inc. increased its stake in NIKE by 2.9% during the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock valued at $374,000 after purchasing an additional 165 shares in the last quarter. Finally, TPG Financial Advisors LLC increased its stake in NIKE by 4.8% during the 3rd quarter. TPG Financial Advisors LLC now owns 3,666 shares of the footwear maker’s stock valued at $256,000 after purchasing an additional 168 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NKE. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $54.00 to $51.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. DZ Bank restated a “buy” rating on shares of NIKE in a research note on Tuesday, April 21st. JPMorgan Chase & Co. restated a “neutral” rating on shares of NIKE in a research note on Monday, April 13th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $52.00 price target (down from $76.00) on shares of NIKE in a research note on Wednesday, April 1st. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Hold” and an average target price of $62.04.

NIKE Stock Up 3.1%

NKE opened at $47.40 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average price of $45.89 and a 200-day moving average price of $56.84. NIKE, Inc. has a twelve month low of $41.35 and a twelve month high of $80.17. The stock has a market capitalization of $70.20 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 2.44 and a beta of 1.12.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.5%. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 11,781 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were acquired at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the transaction, the director owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Elliott Hill purchased 23,660 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were acquired at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the purchase, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by corporate insiders.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).