Harbour Trust & Investment Management Co Decreases Position in NIKE, Inc. $NKE

Harbour Trust & Investment Management Co cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 18.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,935 shares of the footwear maker’s stock after selling 4,714 shares during the period. Harbour Trust & Investment Management Co’s holdings in NIKE were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caldwell Sutter Capital Inc. raised its holdings in shares of NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after buying an additional 142 shares during the period. Westmount Partners LLC raised its holdings in shares of NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after buying an additional 146 shares during the period. HB Wealth Management LLC raised its holdings in shares of NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after buying an additional 147 shares during the period. Matrix Trust Co raised its holdings in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the period. Finally, Summit Financial Strategies Inc. raised its holdings in shares of NIKE by 3.8% in the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock worth $303,000 after buying an additional 155 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. KeyCorp set a $90.00 price objective on NIKE and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Argus upgraded NIKE to a “buy” rating in a report on Sunday, July 6th. Sanford C. Bernstein restated a “buy” rating and set a $90.00 price objective on shares of NIKE in a report on Monday. Finally, TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

NIKE Stock Up 3.3%

Shares of NYSE NKE opened at $67.39 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $99.61 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29. The stock’s fifty day simple moving average is $73.66 and its two-hundred day simple moving average is $67.33. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,378 shares of company stock valued at $14,794,264 in the last three months. 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.