Bangor Savings Bank Reduces Position in NIKE, Inc. (NYSE:NKE)

Bangor Savings Bank lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 15.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,689 shares of the footwear maker’s stock after selling 319 shares during the quarter. Bangor Savings Bank’s holdings in NIKE were worth $159,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cim LLC purchased a new position in shares of NIKE in the 4th quarter valued at approximately $14,275,000. TKG Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at approximately $1,012,000. Louisiana State Employees Retirement System purchased a new position in shares of NIKE in the 4th quarter valued at approximately $8,034,000. Financial Gravity Asset Management Inc. grew its stake in shares of NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after purchasing an additional 176,476 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after purchasing an additional 192,752 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. The Goldman Sachs Group lowered their target price on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. reduced their price target on NIKE from $122.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company reduced their price target on NIKE from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, June 10th. Finally, Robert W. Baird reduced their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $114.81.

NIKE Price Performance

Shares of NYSE:NKE opened at $97.18 on Monday. The company has a market cap of $146.68 billion, a P/E ratio of 28.58, a P/E/G ratio of 1.80 and a beta of 1.05. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $123.39. The business has a fifty day simple moving average of $93.60 and a 200-day simple moving average of $99.79.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. Equities research analysts forecast that NIKE, Inc. will post 3.76 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.