Blue Trust Inc. Has $1.03 Million Position in NIKE, Inc. $NKE

Blue Trust Inc. grew its stake in NIKE, Inc. (NYSE:NKE) by 13.8% during the second quarter, HoldingsChannel reports. The firm owned 14,540 shares of the footwear maker’s stock after buying an additional 1,758 shares during the quarter. Blue Trust Inc.’s holdings in NIKE were worth $1,033,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mascoma Wealth Management LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at approximately $26,000. Stone House Investment Management LLC acquired a new stake in NIKE during the 1st quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC boosted its position in NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares during the period. Matrix Trust Co boosted its position in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the period. Finally, Saudi Central Bank acquired a new stake in NIKE during the 1st quarter worth approximately $30,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NKE shares. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Bank of America lifted their target price on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. The Goldman Sachs Group set a $85.00 target price on shares of NIKE and gave the stock a “buy” rating in a research report on Thursday, September 25th. Stifel Nicolaus set a $68.00 price target on shares of NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Finally, Barclays set a $70.00 price target on shares of NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

NIKE Stock Down 4.1%

Shares of NYSE NKE opened at $65.25 on Friday. The company’s 50 day moving average price is $73.80 and its 200-day moving average price is $67.29. The company has a market capitalization of $96.45 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $84.76.

NIKE (NYSE:NKE) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. NIKE’s payout ratio is currently 82.05%.

Insider Buying and Selling at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction 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 completion of the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction 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 of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,378 shares of company stock valued at $14,794,264 in the last quarter. 0.80% of the stock is currently owned by company 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.