NIKE, Inc. (NYSE:NKE) Position Reduced by Adirondack Trust Co.

Adirondack Trust Co. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 25.1% in the third quarter, HoldingsChannel.com reports. The firm owned 4,916 shares of the footwear maker’s stock after selling 1,646 shares during the period. Adirondack Trust Co.’s holdings in NIKE were worth $435,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NKE. MGO One Seven LLC lifted its stake in NIKE by 4.8% during the fourth quarter. MGO One Seven LLC now owns 18,637 shares of the footwear maker’s stock valued at $2,023,000 after purchasing an additional 857 shares during the last quarter. True Wealth Design LLC lifted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Point72 Europe London LLP bought a new stake in shares of NIKE during the 4th quarter worth $2,064,000. Pitcairn Co. grew its holdings in shares of NIKE by 30.0% in the 4th quarter. Pitcairn Co. now owns 28,935 shares of the footwear maker’s stock worth $3,141,000 after acquiring an additional 6,675 shares during the last quarter. Finally, Bell Investment Advisors Inc grew its holdings in shares of NIKE by 4.7% in the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after acquiring an additional 118 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $82.46 on Thursday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a fifty day simple moving average of $81.18 and a 200 day simple moving average of $85.82. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company has a market cap of $124.46 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 earnings per share. On average, sell-side analysts predict that NIKE, Inc. will post 3.04 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent analyst reports. Telsey Advisory Group decreased their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Robert W. Baird lifted their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. HSBC dropped their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. TD Cowen boosted their price objective on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Wedbush dropped their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.04.

NIKE Company Profile

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.