Argent Trust Co raised its stake in NIKE, Inc. (NYSE:NKE) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,919 shares of the footwear maker’s stock after acquiring an additional 1,167 shares during the quarter. Argent Trust Co’s holdings in NIKE were worth $4,774,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of NKE. WASHINGTON TRUST Co increased its stake in shares of NIKE by 2.2% in the first quarter. WASHINGTON TRUST Co now owns 141,259 shares of the footwear maker’s stock valued at $18,772,000 after buying an additional 3,108 shares during the period. Alliancebernstein L.P. increased its position in NIKE by 9.0% during the 1st quarter. Alliancebernstein L.P. now owns 20,039,248 shares of the footwear maker’s stock valued at $2,663,015,000 after purchasing an additional 1,649,988 shares during the period. Lee Danner & Bass Inc. increased its position in NIKE by 55.6% during the 1st quarter. Lee Danner & Bass Inc. now owns 9,641 shares of the footwear maker’s stock valued at $1,281,000 after purchasing an additional 3,445 shares during the period. PAX Financial Group LLC increased its position in NIKE by 26.9% during the 1st quarter. PAX Financial Group LLC now owns 15,333 shares of the footwear maker’s stock valued at $2,038,000 after purchasing an additional 3,252 shares during the period. Finally, Sciencast Management LP increased its position in NIKE by 1,189.2% during the 1st quarter. Sciencast Management LP now owns 20,240 shares of the footwear maker’s stock valued at $2,744,000 after purchasing an additional 18,670 shares during the period. 64.69% of the stock is owned by hedge funds and other institutional investors.
In other NIKE news, Director Peter B. Henry sold 3,388 shares of the company’s stock in a transaction dated Tuesday, April 20th. The shares were sold at an average price of $127.03, for a total transaction of $430,377.64. Following the transaction, the director now owns 2,282 shares in the company, valued at approximately $289,882.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 114,094 shares of the firm’s stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $130.67, for a total transaction of $14,908,662.98. Following the sale, the chairman now directly owns 1,537,729 shares in the company, valued at approximately $200,935,048.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,821 shares of company stock valued at $20,450,895. 3.80% of the stock is owned by company insiders.
NIKE (NYSE:NKE) last released its earnings results on Wednesday, March 17th. The footwear maker reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.15. NIKE had a net margin of 8.90% and a return on equity of 34.41%. The firm had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.98 billion. During the same period in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. As a group, research analysts forecast that NIKE, Inc. will post 3.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Tuesday, June 1st will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, May 28th. NIKE’s dividend payout ratio (DPR) is 59.46%.
NKE has been the subject of several recent analyst reports. Cowen lifted their price objective on shares of NIKE from $170.00 to $173.00 and gave the company an “outperform” rating in a research note on Wednesday, March 17th. DZ Bank reiterated a “sell” rating on shares of NIKE in a report on Friday, April 23rd. JPMorgan Chase & Co. set a $176.00 price target on shares of NIKE and gave the company a “buy” rating in a research report on Wednesday, April 21st. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and raised their price target for the company from $140.00 to $192.00 in a research report on Tuesday, May 11th. Finally, Zacks Investment Research lowered NIKE from a “buy” rating to a “hold” rating and set a $146.00 price objective for the company. in a report on Monday, March 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $161.29.
NIKE Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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