Sanibel Captiva Trust Company Inc. Grows Stake in NIKE, Inc. (NYSE:NKE)

Sanibel Captiva Trust Company Inc. increased its holdings in NIKE, Inc. (NYSE:NKE) by 5.7% during the fourth quarter, Holdings Channel reports. The firm owned 150,864 shares of the footwear maker’s stock after acquiring an additional 8,102 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in NIKE were worth $11,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE in the third quarter worth $30,000. VitalStone Financial LLC increased its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Dunhill Financial LLC lifted its stake in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares in the last quarter. Ecofi Investissements SA bought a new position in shares of NIKE during the 2nd quarter valued at about $49,000. Finally, Riverview Trust Co purchased a new position in shares of NIKE during the third quarter valued at about $52,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Down 0.3 %

NIKE stock opened at $70.89 on Friday. The business has a fifty day moving average price of $75.87 and a 200-day moving average price of $77.96. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The stock has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. 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 posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is presently 49.38%.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $93.00 to $80.00 in a report on Friday, December 20th. Jefferies Financial Group increased their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus reduced their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

NIKE 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.