Philadelphia Trust Co. Has $3.27 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Philadelphia Trust Co. lowered its holdings in NIKE, Inc. (NYSE:NKE) by 49.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 43,176 shares of the footwear maker’s stock after selling 43,041 shares during the period. Philadelphia Trust Co.’s holdings in NIKE were worth $3,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC bought a new position in NIKE during the fourth quarter worth $28,000. Caitlin John LLC raised its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Roxbury Financial LLC bought a new stake in shares of NIKE in the fourth quarter valued at about $30,000. LFA Lugano Financial Advisors SA grew its position in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in NIKE during the fourth quarter valued at about $30,000. 64.25% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $54.44 on Friday. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The firm has a 50-day moving average of $70.03 and a 200-day moving average of $74.93. The company has a market cap of $80.52 billion, a P/E ratio of 16.80, a P/E/G ratio of 2.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is 53.16%.

Wall Street Analyst Weigh In

NKE has been the topic of several recent research reports. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Barclays lowered their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reduced their price objective on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a report on Friday, March 21st. Stifel Nicolaus lowered their target price on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Morgan Stanley cut their price target on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.19.

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.