Fulton Bank N.A. Sells 3,569 Shares of NIKE, Inc. (NYSE:NKE)

Fulton Bank N.A. reduced its stake in shares of NIKE, Inc. (NYSE:NKEFree Report) by 22.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,334 shares of the footwear maker’s stock after selling 3,569 shares during the quarter. Fulton Bank N.A.’s holdings in NIKE were worth $933,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Loomis Sayles & Co. L P grew its holdings in NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. State Street Corp grew its stake in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Holocene Advisors LP acquired a new position in NIKE in the 3rd quarter valued at $148,635,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in NIKE in the 3rd quarter worth $144,927,000. Finally, Renaissance Technologies LLC lifted its position in NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after acquiring an additional 1,550,611 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

NIKE Trading Down 1.1 %

NKE stock opened at $71.31 on Thursday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.43. The stock has a market capitalization of $106.92 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The business has a fifty day moving average price of $76.54 and a 200 day moving average price of $78.70.

NIKE (NYSE:NKEGet Free Report) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s revenue was down 7.7% on a year-over-year basis. Analysts expect that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is presently 49.38%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Jefferies Financial Group raised their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $89.58.

View Our Latest Research Report on NIKE

NIKE Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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