Kentucky Trust Co Invests $72,000 in NIKE, Inc. (NYSE:NKE)

Kentucky Trust Co bought a new position in NIKE, Inc. (NYSE:NKE) in the 4th quarter, Holdings Channel.com reports. The firm bought 956 shares of the footwear maker’s stock, valued at approximately $72,000.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP lifted its stake in shares of NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC lifted its stake in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the period. Fisher Asset Management LLC lifted its stake in shares of NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after purchasing an additional 583,207 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of NIKE by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

NIKE Price Performance

NKE opened at $72.31 on Thursday. The company’s 50 day simple moving average is $74.80 and its 200 day simple moving average is $78.08. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $107.34. The stock has a market capitalization of $106.96 billion, a PE ratio of 22.32, a P/E/G ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the company earned $1.03 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NKE. UBS Group reiterated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Wells Fargo & Company reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, Guggenheim restated a “buy” rating and set a $110.00 target price on shares of NIKE in a report on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.62.

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.