FineMark National Bank & Trust Sells 1,004 Shares of NIKE, Inc. (NYSE:NKE)

FineMark National Bank & Trust lowered its holdings in NIKE, Inc. (NYSE:NKE) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 126,585 shares of the footwear maker’s stock after selling 1,004 shares during the quarter. FineMark National Bank & Trust’s holdings in NIKE were worth $13,743,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of NIKE in the fourth quarter valued at about $1,315,097,000. Newport Trust Company LLC bought a new stake in shares of NIKE during the third quarter worth approximately $679,775,000. Van ECK Associates Corp grew its position in shares of NIKE by 117.0% in the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock valued at $285,564,000 after purchasing an additional 1,610,273 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of NIKE by 37.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after purchasing an additional 1,583,541 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in NIKE during the 3rd quarter worth approximately $97,724,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 1.4 %

NKE stock traded down $1.26 during trading on Thursday, reaching $91.24. The stock had a trading volume of 5,416,425 shares, compared to its average volume of 9,213,177. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $137.71 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 1.79 and a beta of 1.07. NIKE, Inc. has a one year low of $88.66 and a one year high of $123.39. The company’s 50 day moving average is $93.49 and its two-hundred day moving average is $102.11.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. Equities research analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.62%. NIKE’s dividend payout ratio is presently 43.53%.

Insider Activity

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 over the last quarter. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Evercore ISI lowered their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price objective (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Sanford C. Bernstein lowered their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Piper Sandler reduced their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.26.

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.