First Command Bank Has $872,000 Stake in NIKE, Inc. (NYSE:NKE)

Posted by Defense World Staff on Mar 30th, 2023

First Command Bank trimmed its position in NIKE, Inc. (NYSE:NKE – Get Rating) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,456 shares of the footwear maker’s stock after selling 107 shares during the quarter. First Command Bank’s holdings in NIKE were worth $872,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NKE. Vanguard Group Inc. raised its position in shares of NIKE by 0.9% in the third quarter. Vanguard Group Inc. now owns 108,615,256 shares of the footwear maker’s stock valued at $9,028,100,000 after buying an additional 984,780 shares in the last quarter. State Street Corp grew its holdings in shares of NIKE by 1.3% during the 3rd quarter. State Street Corp now owns 55,245,370 shares of the footwear maker’s stock worth $4,608,491,000 after purchasing an additional 682,827 shares in the last quarter. Edgewood Management LLC grew its holdings in shares of NIKE by 4.3% during the 3rd quarter. Edgewood Management LLC now owns 14,367,995 shares of the footwear maker’s stock worth $1,194,268,000 after purchasing an additional 595,267 shares in the last quarter. Legal & General Group Plc increased its position in shares of NIKE by 0.7% in the second quarter. Legal & General Group Plc now owns 9,278,863 shares of the footwear maker’s stock worth $948,301,000 after purchasing an additional 61,311 shares during the period. Finally, Fisher Asset Management LLC raised its stake in NIKE by 2.7% in the third quarter. Fisher Asset Management LLC now owns 8,768,567 shares of the footwear maker’s stock valued at $728,843,000 after purchasing an additional 227,380 shares in the last quarter. Institutional investors own 63.20% of the company’s stock.

NIKE Price Performance

NKE stock opened at $120.49 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.73 and a debt-to-equity ratio of 0.61. The firm has a market cap of $186.83 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 3.46 and a beta of 1.10. The company’s fifty day simple moving average is $122.58 and its 200 day simple moving average is $110.67. NIKE, Inc. has a 12-month low of $82.22 and a 12-month high of $139.86.

NIKE (NYSE:NKE – Get Rating) last announced its earnings results on Tuesday, March 21st. The footwear maker reported $0.79 EPS for the quarter, beating the consensus estimate of $0.55 by $0.24. The company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.48 billion. NIKE had a return on equity of 35.98% and a net margin of 10.82%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 EPS. On average, analysts expect that NIKE, Inc. will post 3.22 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 6th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, March 3rd. NIKE’s dividend payout ratio (DPR) is 39.19%.

Insider Activity

In other NIKE news, EVP Monique S. Matheson sold 5,000 shares of the firm’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 60,213 shares in the company, valued at $7,466,412. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Peter B. Henry bought 557 shares of the stock in a transaction dated Tuesday, February 7th. The shares were bought at an average cost of $125.45 per share, with a total value of $69,875.65. Following the completion of the transaction, the director now directly owns 4,062 shares of the company’s stock, valued at $509,577.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 5,000 shares of the stock in a transaction on Friday, January 6th. The stock was sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the transaction, the executive vice president now owns 60,213 shares in the company, valued at $7,466,412. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NKE has been the topic of a number of analyst reports. OTR Global upgraded shares of NIKE from a “mixed” rating to a “positive” rating in a research note on Friday, March 10th. Morgan Stanley lowered their price objective on shares of NIKE from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on NIKE from $126.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, December 21st. Daiwa Capital Markets lifted their price target on NIKE from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Redburn Partners started coverage on NIKE in a research report on Thursday, March 16th. They set a “sell” rating and a $100.00 price objective for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $134.33.

NIKE Company Profile

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NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.