Trust Co. of Vermont Reduces Stake in NIKE, Inc.

Trust Co. of Vermont has reduced its holdings in NIKE, Inc. (NYSE:NKE) by 7.7% during the fourth quarter of the year, as disclosed in its recent filing with the SEC. After selling 6,775 shares, the fund now owns a total of 81,369 shares in the well-known footwear company. As of the latest filing, Trust Co. of Vermont's investment in NIKE is valued at approximately $6,157,000.

Institutional Holdings and Investor Activity

Several other large investors have also made changes to their positions in NIKE recently. For instance, Teachers Insurance & Annuity Association of America established a new stake in NIKE during the third quarter valued at around $30,000. VitalStone Financial LLC increased its investment by 52.6% in the same quarter, acquiring an additional 150 shares and bringing its total to 435 shares, now worth $38,000. Similarly, Dunhill Financial LLC boosted its holdings by 52.2%, owning 493 shares valued at $44,000 after buying 169 more shares. Ecofi Investissements SA and Riverview Trust Co also bought new positions in NIKE worth $49,000 and $52,000, respectively. It is noteworthy that 64.25% of NIKE's stock is presently owned by institutional investors and hedge funds.

Recent Stock Performance

NIKE shares traded down 0.3%, closing at $70.89 on a recent Friday, with a trading volume of 9,688,434 shares, below the average of 11,668,856. The company has a market capitalization of $104.85 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.26, and a beta of 1.02. NIKE's stock has seen a 12-month low of $70.32 and a high of $107.43. Financial metrics such as the quick ratio stand at 1.51, the current ratio at 2.22, and a debt-to-equity ratio of 0.57.

Quarterly Earnings Report

On December 19th, NIKE announced its earnings for the quarter, reporting $0.78 earnings per share (EPS), surpassing the analysts' consensus estimate of $0.63 by $0.15. The company achieved a return on equity of 36.99% and a net margin of 9.98%. Revenue for the quarter was reported at $12.35 billion, which was above the expected $12.11 billion, albeit a 7.7% decline from the previous year. Analysts predict that NIKE will post an EPS of approximately 2.1 for the current year.

Dividend Increase

NIKE has also announced a quarterly dividend, recently paying $0.40 per share to investors of record on December 2nd, which was an increase from the prior dividend of $0.37. This brings the annualized dividend to $1.60, yielding 2.26%. The dividend payout ratio currently stands at 49.38%.

Analyst Recommendations

Equities research analysts have been issuing reports on NIKE shares. For example, UBS Group has reiterated a "neutral" rating with a target price of $73.00, while Guggenheim lowered its price target from $115.00 to $110.00 while maintaining a "buy" rating. Stifel Nicolaus cut its target price from $79.00 to $75.00, marking it as a "hold" rating. Notably, Wells Fargo reduced their price target from $95.00 to $92.00 while keeping an "overweight" rating. In total, fourteen analysts recommend holding the stock, sixteen have issued buy ratings, and one has designated it a strong buy, giving NIKE a consensus rating of "Moderate Buy" and an average price target of $89.96.

Insider Trading Activity

In related news, Director John W. Rogers, Jr. bought 2,500 shares on December 27th at an average price of $76.65, totaling a purchase of $191,625. After this transaction, he now owns 34,403 shares of NIKE, which are valued at around $2,636,989.95, representing a 7.84% increase in his stake. Insiders currently hold about 1.1% of NIKE's stock.

About NIKE, Inc.

NIKE, Inc. is a globally recognized company that designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories through its various subsidiaries. NIKE also offers a range of products under well-known trademarks, including the Jumpman brand and Converse.

Nike, Investments, Finance