Newport Trust Company LLC Has $354.27 Million Stock Position in NIKE, Inc. $NKE

Newport Trust Company LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 5,560,705 shares of the footwear maker’s stock after selling 124,828 shares during the period. NIKE accounts for approximately 0.8% of Newport Trust Company LLC’s holdings, making the stock its 21st largest position. Newport Trust Company LLC’s holdings in NIKE were worth $354,273,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Mizuho Markets Cayman LP bought a new stake in shares of NIKE in the third quarter worth $34,200,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of NIKE in the fourth quarter worth $43,188,000. Strive Asset Management LLC bought a new stake in shares of NIKE in the third quarter worth $1,743,000. Nicholas Company Inc. grew its stake in shares of NIKE by 33.3% in the fourth quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock worth $7,878,000 after purchasing an additional 30,890 shares during the last quarter. Finally, Park National Corp OH grew its stake in shares of NIKE by 81.5% in the fourth quarter. Park National Corp OH now owns 431,055 shares of the footwear maker’s stock worth $27,463,000 after purchasing an additional 193,514 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was bought at an average cost of $43.34 per share, with a total value of $173,360.00. Following the acquisition, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Holmes Swan acquired 11,781 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was acquired at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the acquisition, the director owned 55,074 shares in the company, valued at $2,337,340.56. This trade represents a 27.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 64,441 shares of company stock valued at $2,734,204 in the last quarter. Corporate insiders own 0.80% of the company’s stock.

NIKE Stock Up 0.5%

NIKE stock opened at $44.40 on Friday. NIKE, Inc. has a twelve month low of $41.35 and a twelve month high of $80.17. The firm has a 50 day moving average price of $46.81 and a 200-day moving average price of $57.41. The company has a market capitalization of $65.75 billion, a P/E ratio of 29.40, a P/E/G ratio of 2.34 and a beta of 1.12. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. NIKE’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. As a group, equities analysts predict that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.7%. NIKE’s dividend payout ratio (DPR) is 108.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NKE. Jefferies Financial Group cut their price target on shares of NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Wells Fargo & Company set a $45.00 price objective on shares of NIKE and gave the company an “equal weight” rating in a report on Friday, May 8th. Williams Trading dropped their price objective on shares of NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. China Renaissance dropped their price objective on shares of NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a report on Thursday, April 2nd. Finally, Bank of America reiterated a “neutral” rating and set a $55.00 price objective (down from $73.00) on shares of NIKE in a report on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Hold” and a consensus price target of $62.04.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE shares are benefiting from a shift into consumer and cyclical stocks as market breadth improves, helping lift sentiment around the name. Nike Stock Is Testing A Level That Could Define The Next Move
• Positive Sentiment: Lower energy prices and softer long-term Treasury yields are helping consumer discretionary stocks, including NIKE, by easing inflation worries and supporting expectations for resilient consumer spending. Nike Stock Soars As Energy Prices And Bond Yields Drop
• Neutral Sentiment: NIKE remains a heavily watched stock, with recent articles and trending searches suggesting investors are actively reassessing the name rather than reacting to a single fundamental catalyst. NIKE, Inc. (NKE) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Analyst and commentary pieces are focused on whether NIKE is ready for a turnaround, but they do not point to a clear near-term catalyst on their own. Is Nike Stock (NKE) Ready for a Turnaround?
• Negative Sentiment: Some recent analysis remains cautious, arguing NIKE is still not cheap enough or that the operating environment is tough, which could limit upside if investors demand clearer evidence of a rebound. Nike: Not Cheap Enough Yet

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).