Hemenway Trust Co LLC Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Hemenway Trust Co LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 93.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,187 shares of the footwear maker’s stock after selling 44,326 shares during the period. Hemenway Trust Co LLC’s holdings in NIKE were worth $282,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Transcendent Capital Group LLC boosted its holdings in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in NIKE in the 2nd quarter worth approximately $44,000. Finally, Riverview Trust Co purchased a new stake in NIKE during the 3rd quarter valued at $52,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

NYSE:NKE traded up $0.21 during trading hours on Tuesday, reaching $76.81. The stock had a trading volume of 747,669 shares, compared to its average volume of 11,483,049. The stock has a market capitalization of $115.17 billion, a PE ratio of 21.95, a PEG ratio of 1.84 and a beta of 1.03. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a 50 day moving average price of $81.25 and a two-hundred day moving average price of $83.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the business posted $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on NKE. Wells Fargo & Company raised their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Bank of America dropped their target price on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Sanford C. Bernstein cut their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Finally, Jefferies Financial Group boosted their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.48.

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.