Somerset Trust Co Has $1.84 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Somerset Trust Co increased its position in shares of NIKE, Inc. (NYSE:NKEFree Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,602 shares of the footwear maker’s stock after acquiring an additional 626 shares during the period. Somerset Trust Co’s holdings in NIKE were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Cim LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $14,275,000. TKG Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $1,012,000. Louisiana State Employees Retirement System acquired a new stake in NIKE in the fourth quarter valued at approximately $8,034,000. Financial Gravity Asset Management Inc. raised its stake in shares of NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after acquiring an additional 176,476 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of NIKE by 4.3% during the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after acquiring an additional 192,752 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In related news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 over the last quarter. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. Stifel Nicolaus dropped their price target on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $115.00 price target on shares of NIKE in a research note on Thursday, June 13th. The Goldman Sachs Group dropped their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Robert W. Baird dropped their price target on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, UBS Group dropped their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.52.

Get Our Latest Research Report on NIKE

NIKE Stock Down 0.2 %

NIKE stock traded down $0.22 during midday trading on Wednesday, hitting $94.78. 6,712,037 shares of the stock were exchanged, compared to its average volume of 8,025,083. The stock has a market capitalization of $143.06 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $123.39. The business’s 50-day moving average price is $93.31 and its 200-day moving average price is $100.21.

NIKE (NYSE:NKEGet Free Report) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, research analysts expect that NIKE, Inc. will post 3.76 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

NIKE Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKEFree Report).

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.