NIKE, Inc. (NYSE:NKE) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,585 shares of the footwear maker’s stock after selling 1,004 shares during the quarter. FineMark National Bank & Trust’s holdings in NIKE were worth $13,743,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of NIKE by 0.7% in the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after acquiring an additional 125,746 shares during the period. Northern Trust Corp lifted its holdings in shares of NIKE by 4.5% during the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after purchasing an additional 674,198 shares during the period. Norges Bank acquired a new stake in shares of NIKE during the fourth quarter worth $1,315,097,000. Fisher Asset Management LLC lifted its holdings in shares of NIKE by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after purchasing an additional 219,091 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in NIKE by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock worth $766,829,000 after acquiring an additional 89,947 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,660 shares of company stock worth $19,946,333. Corporate insiders own 0.50% of the company’s stock.

NIKE Price Performance

Shares of NKE stock traded down $1.26 during mid-day trading on Thursday, hitting $91.24. 5,416,425 shares of the stock traded hands, compared to its average volume of 9,213,177. The company’s 50-day simple moving average is $93.49 and its 200-day simple moving average is $102.11. The firm has a market cap of $137.71 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $123.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, equities research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is 43.53%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NKE shares. Robert W. Baird cut their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Williams Trading restated a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Telsey Advisory Group dropped their price objective on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Finally, UBS Group decreased their price target on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $116.26.

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.