First Western Trust Bank Has $4.05 Million Holdings in NIKE, Inc. (NYSE:NKE)

First Western Trust Bank cut its position in NIKE, Inc. (NYSE:NKE) by 15.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,776 shares of the footwear maker’s stock after selling 8,493 shares during the quarter. First Western Trust Bank’s holdings in NIKE were worth $4,047,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NKE. Garrison Point Advisors LLC raised its holdings in NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares during the last quarter. PSI Advisors LLC raised its holdings in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares during the last quarter. Pitcairn Co. lifted its position in NIKE by 0.5% in the 1st quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock valued at $2,732,000 after acquiring an additional 132 shares in the last quarter. Finally, Chapin Davis Inc. increased its holdings in NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Up 1.3 %

NIKE stock opened at $76.66 on Monday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a market capitalization of $114.94 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. The firm has a 50 day moving average of $80.89 and a 200 day moving average of $83.15. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, research analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s payout ratio is presently 42.41%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley raised 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. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Bank of America reduced their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. UBS Group increased their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

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.