Nike Inc (NKE) Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC lowered its position in Nike Inc (NYSE:NKE) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 493,629 shares of the footwear maker’s stock after selling 8,975 shares during the quarter. Nike comprises approximately 1.3% of Evercore Wealth Management LLC’s portfolio, making the stock its 28th largest holding. Evercore Wealth Management LLC’s holdings in Nike were worth $41,820,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NKE. National Asset Management Inc. increased its stake in Nike by 4.7% in the third quarter. National Asset Management Inc. now owns 14,586 shares of the footwear maker’s stock valued at $1,237,000 after acquiring an additional 655 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in Nike by 9.3% in the second quarter. ST Germain D J Co. Inc. now owns 7,763 shares of the footwear maker’s stock valued at $619,000 after acquiring an additional 660 shares during the last quarter. Barrett Asset Management LLC increased its stake in Nike by 3.2% in the second quarter. Barrett Asset Management LLC now owns 22,449 shares of the footwear maker’s stock valued at $1,789,000 after acquiring an additional 700 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Nike by 1.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 49,366 shares of the footwear maker’s stock valued at $3,932,000 after acquiring an additional 703 shares during the last quarter. Finally, Fulton Breakefield Broenniman LLC increased its stake in Nike by 1.2% in the second quarter. Fulton Breakefield Broenniman LLC now owns 61,922 shares of the footwear maker’s stock valued at $4,934,000 after acquiring an additional 706 shares during the last quarter. 64.09% of the stock is currently owned by hedge funds and other institutional investors.

Nike stock opened at $75.79 on Thursday. The company has a quick ratio of 1.53, a current ratio of 2.31 and a debt-to-equity ratio of 0.39. The stock has a market cap of $120.36 billion, a PE ratio of 31.32, a PEG ratio of 2.37 and a beta of 0.76. Nike Inc has a 1-year low of $59.65 and a 1-year high of $86.04.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.92 billion. Nike had a net margin of 5.57% and a return on equity of 40.69%. Nike’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. Sell-side analysts predict that Nike Inc will post 2.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.22 per share. This is a positive change from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, November 30th. Nike’s dividend payout ratio is currently 36.36%.

In other Nike news, EVP Monique S. Matheson sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $85.00, for a total value of $1,445,000.00. Following the completion of the sale, the executive vice president now directly owns 104,737 shares in the company, valued at $8,902,645. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now owns 26,963 shares of the company’s stock, valued at $2,293,203.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $4,219,350. 3.90% of the stock is currently owned by company insiders.

A number of research analysts recently commented on the company. Macquarie set a $98.00 target price on Nike and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group restated a “neutral” rating and set a $80.00 price target on shares of Nike in a research report on Tuesday. Zacks Investment Research lowered shares of Nike from a “hold” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. restated a “neutral” rating and set a $85.00 price target on shares of Nike in a research report on Monday. Finally, Wells Fargo & Co set a $82.00 price target on shares of Nike and gave the company a “neutral” rating in a research report on Monday, November 19th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $85.85.

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Nike Profile

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: 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, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and 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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