Arlington Trust Co LLC Has $57,000 Stock Position in NIKE, Inc. $NKE

Arlington Trust Co LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 72.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 797 shares of the footwear maker’s stock after selling 2,135 shares during the quarter. Arlington Trust Co LLC’s holdings in NIKE were worth $57,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Spire Wealth Management boosted its holdings in shares of NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after acquiring an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker’s stock valued at $40,835,000 after buying an additional 231,417 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of NIKE in the first quarter valued at about $25,963,000. Finally, Olstein Capital Management L.P. lifted its position in NIKE by 42.2% during the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock worth $5,777,000 after buying an additional 27,000 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.1%

NKE opened at $73.06 on Tuesday. The stock has a market capitalization of $107.91 billion, a P/E ratio of 33.83, a P/E/G ratio of 2.65 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The firm’s fifty day simple moving average is $75.33 and its 200 day simple moving average is $67.59.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s payout ratio is presently 74.07%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, June 27th. Royal Bank Of Canada lowered their price target on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a report on Tuesday, May 20th. DZ Bank downgraded NIKE from a “buy” rating to a “hold” rating and set a $76.00 price objective on the stock. in a report on Thursday, July 10th. Cowen raised NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Finally, Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.67.

Insider Buying and Selling

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 transaction of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.80% of the company’s stock.

NIKE Company 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.