Somerset Trust Co Raises Position in NIKE, Inc. (NYSE:NKE)

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Somerset Trust Co raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,837 shares of the footwear maker’s stock after acquiring an additional 307 shares during the quarter. Somerset Trust Co’s holdings in NIKE were worth $2,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of NKE. Perennial Advisors LLC purchased a new position in shares of NIKE during the 1st quarter valued at $30,000. Sound Income Strategies LLC lifted its stake in shares of NIKE by 163.8% during the 3rd quarter. Sound Income Strategies LLC now owns 248 shares of the footwear maker’s stock valued at $31,000 after buying an additional 154 shares in the last quarter. Demars Financial Group LLC purchased a new position in shares of NIKE during the 2nd quarter valued at $42,000. U S Global Investors Inc. purchased a new position in shares of NIKE during the 2nd quarter valued at $53,000. Finally, Campbell Wealth Management purchased a new position in shares of NIKE during the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 64.20% of the company’s stock.

A number of research analysts recently weighed in on NKE shares. Pivotal Research lifted their target price on shares of NIKE from $118.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. Oppenheimer initiated coverage on shares of NIKE in a report on Friday, June 26th. They issued a “buy” rating and a $115.00 price target on the stock. Morgan Stanley lifted their price target on shares of NIKE from $121.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, September 18th. TheStreet upgraded shares of NIKE from a “c+” rating to a “b” rating in a report on Tuesday, September 22nd. Finally, Stifel Nicolaus lifted their price target on shares of NIKE from $140.00 to $154.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. NIKE presently has an average rating of “Buy” and a consensus target price of $137.03.

NYSE:NKE traded down $1.00 during mid-day trading on Friday, hitting $128.00. 6,011,173 shares of the stock traded hands, compared to its average volume of 7,844,968. The stock has a market capitalization of $199.67 billion, a price-to-earnings ratio of 76.65, a PEG ratio of 2.80 and a beta of 0.80. NIKE, Inc. has a 52 week low of $60.00 and a 52 week high of $131.34. The firm’s 50 day moving average is $120.42 and its two-hundred day moving average is $101.42. The company has a quick ratio of 1.77, a current ratio of 2.55 and a debt-to-equity ratio of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 22nd. The footwear maker reported $0.95 EPS for the quarter, beating the consensus estimate of $0.46 by $0.49. The company had revenue of $10.59 billion for the quarter, compared to the consensus estimate of $9.15 billion. NIKE had a net margin of 7.20% and a return on equity of 34.62%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. As a group, research analysts predict that NIKE, Inc. will post 2.78 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, August 31st were issued a dividend of $0.245 per share. The ex-dividend date was Friday, August 28th. This represents a $0.98 annualized dividend and a yield of 0.77%. NIKE’s payout ratio is 52.97%.

In other NIKE news, Chairman Mark G. Parker sold 95,906 shares of the business’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $127.06, for a total value of $12,185,816.36. Following the completion of the sale, the chairman now directly owns 1,519,541 shares of the company’s stock, valued at approximately $193,072,879.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Andrew Campion sold 56,313 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $98.56, for a total transaction of $5,550,209.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 841,962 shares of company stock valued at $103,292,012. 3.80% of the stock is owned by corporate insiders.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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