Harbour Trust & Investment Management Co Trims Stock Holdings in NIKE, Inc. $NKE

Harbour Trust & Investment Management Co decreased its position in NIKE, Inc. (NYSE:NKE) by 18.4% in the second quarter, HoldingsChannel.com reports. The fund owned 20,935 shares of the footwear maker’s stock after selling 4,714 shares during the period. Harbour Trust & Investment Management Co’s holdings in NIKE were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Caldwell Sutter Capital Inc. raised its stake in shares of 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 during the last quarter. Westmount Partners LLC raised its stake 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 valued at $367,000 after buying an additional 146 shares during the last quarter. HB Wealth Management LLC raised its stake 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 buying an additional 147 shares during the last quarter. Matrix Trust Co raised its stake in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. Finally, Summit Financial Strategies Inc. raised its stake in shares of NIKE by 3.8% during the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock valued at $303,000 after buying an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $67.39 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The firm has a market cap of $99.61 billion, a PE ratio of 34.56, a P/E/G ratio of 2.38 and a beta of 1.29. The business has a 50-day moving average price of $73.66 and a 200 day moving average price of $67.33.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the previous year, the firm posted $0.70 EPS. NIKE’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE’s payout ratio is presently 82.05%.

Insider Activity

In related news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,378 shares of company stock worth $14,794,264. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. HSBC upgraded NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Friday, June 27th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price objective on shares of NIKE in a research note on Monday, September 29th. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a research note on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

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.