Diversified Trust Co Trims Position in NIKE, Inc. (NYSE:NKE)

Diversified Trust Co lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 22.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,585 shares of the footwear maker’s stock after selling 5,214 shares during the quarter. Diversified Trust Co’s holdings in NIKE were worth $1,331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NKE. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE during the third quarter valued at approximately $30,000. VitalStone Financial LLC raised its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC raised its holdings in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Riverview Trust Co purchased a new position in NIKE during the third quarter valued at $52,000. Finally, Catalyst Capital Advisors LLC bought a new stake in NIKE during the third quarter valued at about $54,000. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays lowered their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. TD Cowen lowered their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $89.58.

NIKE Stock Down 1.1 %

Shares of NKE opened at $71.31 on Thursday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $76.54 and a 200 day moving average of $78.70. The company has a market cap of $106.92 billion, a PE ratio of 20.43, a P/E/G ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $107.43.

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. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business earned $1.03 EPS. On average, sell-side analysts expect that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.

NIKE 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.