Fulton Bank N.A. Sells 12,438 Shares of NIKE, Inc. (NYSE:NKE)

Fulton Bank N.A. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 41.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after buying an additional 501,792 shares in the last quarter. Capital International Investors increased its holdings in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $1,315,097,000. Finally, Fisher Asset Management LLC increased its holdings in shares of NIKE by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after purchasing an additional 219,091 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $79.00 price target (down previously from $114.00) on shares of NIKE in a report on Friday, June 28th. TD Cowen lowered their price target on shares of NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. The Goldman Sachs Group lowered their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Finally, BMO Capital Markets lowered their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $96.30.

Insider Buying and Selling at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value 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 Securities & Exchange Commission, which can be accessed through this link. In other news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 278,660 shares of company stock worth $23,735,833. Insiders own 0.50% of the company’s stock.

NIKE Stock Up 1.5 %

NKE traded up $1.08 during trading on Tuesday, hitting $72.50. The company had a trading volume of 13,454,024 shares, compared to its average volume of 11,474,616. The company has a market capitalization of $109.43 billion, a PE ratio of 19.54, a PEG ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm’s 50-day moving average price is $83.31 and its 200 day moving average price is $92.37. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 2.04%. NIKE’s payout ratio is currently 39.68%.

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.