Colonial Trust Co SC Increases Position in NIKE, Inc. (NYSE:NKE)

Colonial Trust Co SC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,346 shares of the footwear maker’s stock after purchasing an additional 899 shares during the quarter. Colonial Trust Co SC’s holdings in NIKE were worth $2,448,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC grew its position in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $28,000. Roxbury Financial LLC acquired a new position in NIKE during the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA raised its stake in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of NIKE during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

NIKE Price Performance

Shares of NYSE:NKE opened at $57.15 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market capitalization of $84.54 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.52 and a beta of 1.23. The business has a 50-day moving average of $63.70 and a two-hundred day moving average of $71.72. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio is currently 53.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NKE. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Telsey Advisory Group reduced their price objective on NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a research note on Tuesday. Williams Trading reduced their target price on shares of NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company downgraded NIKE from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $75.00 to $55.00 in a report on Wednesday, April 30th. Finally, Stifel Nicolaus reduced their price target on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Seventeen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.48.

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.