NIKE, Inc. (NYSE:NKE) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 3.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 659,628 shares of the footwear maker’s stock after selling 26,068 shares during the period. Fifth Third Bancorp’s holdings in NIKE were worth $41,873,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at approximately $28,000. Roxbury Financial LLC acquired a new stake in shares of NIKE during the 4th quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA raised its position in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of NIKE during the 4th quarter valued at approximately $30,000. Finally, EnRich Financial Partners LLC raised its position in shares of NIKE by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 273 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.5%

NYSE:NKE opened at $62.81 on Friday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The stock has a market cap of $92.90 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The business has a fifty day moving average of $59.23 and a 200-day moving average of $68.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NKE shares. Citigroup dropped their price target on NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Williams Trading dropped their price target on NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group dropped their price target on NIKE from $88.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Cfra Research raised NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Finally, Stifel Nicolaus dropped their price target on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.26.

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.