NIKE, Inc. (NYSE:NKE) Shares Sold by AMG National Trust Bank

AMG National Trust Bank reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 27.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,349 shares of the footwear maker’s stock after selling 6,067 shares during the quarter. AMG National Trust Bank’s holdings in NIKE were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Prudent Man Advisors LLC grew its holdings in shares of NIKE by 42.0% in the 3rd quarter. Prudent Man Advisors LLC now owns 8,594 shares of the footwear maker’s stock worth $760,000 after acquiring an additional 2,544 shares during the period. TrinityPoint Wealth LLC boosted its position in NIKE by 9.2% during the third quarter. TrinityPoint Wealth LLC now owns 28,561 shares of the footwear maker’s stock worth $2,525,000 after purchasing an additional 2,408 shares in the last quarter. Swiss National Bank grew its holdings in NIKE by 0.3% in the third quarter. Swiss National Bank now owns 3,595,800 shares of the footwear maker’s stock valued at $317,869,000 after purchasing an additional 9,000 shares during the last quarter. S&CO Inc. acquired a new position in shares of NIKE during the 3rd quarter worth $213,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of NIKE by 4.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock worth $5,875,000 after buying an additional 2,843 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKE has been the subject of several recent research reports. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Telsey Advisory Group cut their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley increased their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Stifel Nicolaus cut their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Finally, Sanford C. Bernstein reduced their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $96.30.

NIKE Stock Performance

NYSE NKE opened at $74.86 on Tuesday. The business’s 50-day simple moving average is $80.79 and its 200-day simple moving average is $83.03. The firm has a market capitalization of $112.24 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is currently 42.41%.

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.