Trust Co. of Toledo NA OH Sells 640 Shares of NIKE, Inc. $NKE

Trust Co. of Toledo NA OH decreased its position in NIKE, Inc. (NYSE:NKE) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,091 shares of the footwear maker’s stock after selling 640 shares during the period. Trust Co. of Toledo NA OH’s holdings in NIKE were worth $2,848,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NKE. Goldman Sachs Group Inc. lifted its holdings in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP raised its position in shares of NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of NIKE during the 1st quarter worth $509,051,000. Nuveen LLC purchased a new position in NIKE in the first quarter worth $502,285,000. Finally, Vanguard Group Inc. increased its stake in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE opened at $65.25 on Friday. The business’s fifty day simple moving average is $73.80 and its two-hundred day simple moving average is $67.28. 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 $84.76. The company has a market cap of $96.45 billion, a price-to-earnings ratio of 33.46, a P/E/G ratio of 2.48 and a beta of 1.29.

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

NIKE Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Robert W. Baird lifted their price target on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Argus raised shares of NIKE to a “buy” rating in a research note on Sunday, July 6th. The Goldman Sachs Group set a $85.00 target price on shares of NIKE and gave the stock a “buy” rating in a research report on Thursday, September 25th. Finally, Hsbc Global Res upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Three investment 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.57.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, 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 can be found here. Insiders have sold a total of 200,378 shares of company stock worth $14,794,264 over the last 90 days. Insiders own 0.80% of the company’s stock.

About NIKE

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.