Spinnaker Trust Increases Stake in NIKE, Inc. (NYSE:NKE)

Spinnaker Trust boosted its stake in NIKE, Inc. (NYSE:NKE) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,315 shares of the footwear maker’s stock after buying an additional 1,037 shares during the period. Spinnaker Trust’s holdings in NIKE were worth $5,463,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Iron Horse Wealth Management LLC grew its stake in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Impact Partnership Wealth LLC increased its stake in shares of NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 181 shares in the last quarter. Planned Solutions Inc. purchased a new position in NIKE during the 4th quarter valued at about $29,000. Mizuho Securities Co. Ltd. lifted its position in NIKE by 100.0% during the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after acquiring an additional 170 shares during the period. Finally, NewSquare Capital LLC grew its holdings in NIKE by 372.0% in the fourth quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 279 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock traded up $0.17 during trading hours on Friday, reaching $94.11. 6,115,249 shares of the company traded hands, compared to its average volume of 9,429,240. The firm has a 50-day moving average price of $96.96 and a 200 day moving average price of $103.30. The company has a market cap of $142.05 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.83 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, sell-side analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NKE shares. The Goldman Sachs Group lowered their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Wells Fargo & Company dropped their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Robert W. Baird reduced their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Finally, Evercore ISI reduced their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.26.

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.