Nike Inc. (NKE) Shares Bought by Bath Savings Trust Co
Bath Savings Trust Co increased its position in shares of Nike Inc. (NYSE:NKE) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 207,596 shares of the footwear maker’s stock after buying an additional 5,072 shares during the period. Nike accounts for 3.4% of Bath Savings Trust Co’s portfolio, making the stock its 6th largest position. Bath Savings Trust Co’s holdings in Nike were worth $10,930,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. SevenBridge Financial Group LLC bought a new stake in Nike during the second quarter worth about $100,000. Cribstone Capital Management LLC bought a new stake in Nike during the second quarter worth about $106,000. Gierl Augustine Investment Management Inc raised its stake in Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares during the period. CWM LLC raised its stake in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares during the period. Finally, First Personal Financial Services bought a new stake in Nike during the second quarter worth about $125,000. Institutional investors and hedge funds own 62.58% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded down 0.95% during trading on Friday, reaching $51.10. The company had a trading volume of 7,461,602 shares. The company has a market cap of $85.10 billion, a price-to-earnings ratio of 23.06 and a beta of 0.48. The firm has a 50 day moving average price of $51.76 and a 200 day moving average price of $55.22. Nike Inc. has a 12 month low of $49.01 and a 12 month high of $68.19.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company earned $9.06 billion during the quarter. During the same quarter in the prior year, the company earned $1.34 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts predict that Nike Inc. will post $2.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Monday, December 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from Nike’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, December 1st. Nike’s dividend payout ratio is currently 28.83%.
NKE has been the subject of a number of analyst reports. Barclays PLC set a $70.00 price target on Nike and gave the company a “buy” rating in a report on Monday, September 12th. Citigroup Inc. increased their price target on Nike from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, September 28th. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $58.05 price target for the company. in a report on Thursday, October 27th. B. Riley reissued a “neutral” rating and issued a $55.00 price target (down previously from $62.00) on shares of Nike in a report on Monday, September 26th. Finally, Bank of America Corp. set a $55.00 price target on Nike and gave the company a “hold” rating in a report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-two have given a buy rating to the stock. Nike currently has an average rating of “Buy” and an average price target of $63.43.
In other news, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $49.78, for a total transaction of $7,467,000.00. Following the completion of the transaction, the chairman now directly owns 1,985,225 shares in the company, valued at approximately $98,824,500.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John C. Lechleiter acquired 1,000 shares of Nike stock in a transaction dated Friday, September 30th. The shares were acquired at an average price of $52.72 per share, with a total value of $52,720.00. Following the completion of the purchase, the director now owns 27,560 shares in the company, valued at $1,452,963.20. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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