FineMark National Bank & Trust Sells 7,699 Shares of NIKE, Inc. $NKE

FineMark National Bank & Trust lowered its stake in NIKE, Inc. (NYSE:NKE) by 25.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,142 shares of the footwear maker’s stock after selling 7,699 shares during the quarter. FineMark National Bank & Trust’s holdings in NIKE were worth $1,644,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NKE. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of NIKE by 1.0% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after buying an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. grew its holdings in NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after buying an additional 142 shares in the last quarter. Salomon & Ludwin LLC increased its stake in NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after acquiring an additional 145 shares during the last quarter. Westmount Partners LLC raised its holdings in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after acquiring an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after acquiring an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NKE shares. BTIG Research assumed coverage on shares of NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price target on the stock. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Telsey Advisory Group restated a “market perform” rating and set a $75.00 target price on shares of NIKE in a research report on Wednesday, October 1st. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $115.00 price objective on shares of NIKE in a research note on Monday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.24.

NIKE Stock Performance

Shares of NYSE:NKE opened at $62.79 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company has a market capitalization of $92.81 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.41 and a beta of 1.29. The firm’s 50-day moving average is $67.82 and its 200 day moving average is $68.85.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the sale, the chairman directly owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. The trade was a 11.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by company insiders.

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.