NIKE, Inc. (NYSE:NKE) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 41.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,703 shares of the footwear maker’s stock after selling 12,438 shares during the period. Fulton Bank N.A.’s holdings in NIKE were worth $1,334,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cim LLC purchased a new stake in shares of NIKE in the fourth quarter valued at about $14,275,000. TKG Advisors LLC acquired a new position in NIKE in the 4th quarter valued at $1,012,000. Louisiana State Employees Retirement System purchased a new position in NIKE during the 4th quarter worth $8,034,000. Brown Advisory Inc. lifted its stake in shares of NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after acquiring an additional 192,752 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after purchasing an additional 384,357 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders have sold a total of 278,660 shares of company stock valued at $23,735,833 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NKE shares. HSBC decreased their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Citigroup dropped their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Telsey Advisory Group decreased their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 price objective (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Hold” and an average price target of $96.30.

NIKE Trading Up 1.5 %

NYSE:NKE traded up $1.08 during trading hours on Tuesday, reaching $72.50. 13,454,024 shares of the company were exchanged, compared to its average volume of 11,474,616. The firm has a market cap of $109.43 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.92 and a beta of 1.01. The stock has a 50 day simple moving average of $83.31 and a 200 day simple moving average of $92.37. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, analysts predict that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.