WASHINGTON TRUST Co Sells 811 Shares of NIKE, Inc. $NKE

WASHINGTON TRUST Co reduced its stake in NIKE, Inc. (NYSE:NKE) by 9.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 7,381 shares of the footwear maker’s stock after selling 811 shares during the quarter. WASHINGTON TRUST Co’s holdings in NIKE were worth $524,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at about $26,000. Stone House Investment Management LLC bought a new position in shares of NIKE during the first quarter worth about $25,000. Halbert Hargrove Global Advisors LLC raised its position in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after buying an additional 362 shares during the last quarter. Matrix Trust Co lifted its stake in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. Finally, Saudi Central Bank acquired a new position in NIKE during the 1st quarter worth approximately $30,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other news, Director Jorgen Vig Knudstorp bought 16,150 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the completion of the acquisition, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $66.08 on Friday. The company’s 50-day moving average is $68.69 and its 200-day moving average is $68.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The firm has a market capitalization of $97.68 billion, a PE ratio of 33.89, a PEG ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 EPS. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent research reports. The Goldman Sachs Group set a $85.00 price objective on shares of NIKE and gave the company a “buy” rating in a report on Thursday, September 25th. Needham & Company LLC reissued a “buy” rating and set a $78.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Barclays set a $70.00 target price on NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $82.72.

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.