Old North State Trust LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,102 shares of the footwear maker’s stock after buying an additional 212 shares during the period. Old North State Trust LLC’s holdings in NIKE were worth $503,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meiji Yasuda Life Insurance Co boosted its holdings in shares of NIKE by 0.3% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 29,026 shares of the footwear maker’s stock worth $3,396,000 after buying an additional 80 shares during the period. Vestcor Inc boosted its stake in NIKE by 0.3% in the 4th quarter. Vestcor Inc now owns 29,977 shares of the footwear maker’s stock valued at $3,508,000 after purchasing an additional 81 shares during the period. CWS Financial Advisors LLC boosted its stake in NIKE by 2.9% in the 1st quarter. CWS Financial Advisors LLC now owns 2,896 shares of the footwear maker’s stock valued at $355,000 after purchasing an additional 82 shares during the period. Essex Savings Bank boosted its stake in NIKE by 1.2% in the 1st quarter. Essex Savings Bank now owns 6,940 shares of the footwear maker’s stock valued at $851,000 after purchasing an additional 83 shares during the period. Finally, West Family Investments Inc. boosted its stake in NIKE by 2.9% in the 1st quarter. West Family Investments Inc. now owns 3,029 shares of the footwear maker’s stock valued at $371,000 after purchasing an additional 84 shares during the period. 63.42% of the stock is owned by institutional investors.
Analysts Set New Price Targets
NKE has been the subject of several recent research reports. Erste Group Bank restated a “hold” rating on shares of NIKE in a research note on Friday, September 8th. Citigroup cut their price objective on shares of NIKE from $125.00 to $109.00 in a report on Tuesday, June 13th. Robert W. Baird cut their price objective on shares of NIKE from $138.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, July 3rd. KeyCorp started coverage on shares of NIKE in a report on Tuesday, July 25th. They issued a “sector weight” rating for the company. Finally, Wedbush upped their target price on NIKE from $129.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.28.
NIKE Stock Down 1.0 %
Shares of NYSE NKE opened at $96.26 on Friday. The company has a 50 day simple moving average of $104.86 and a 200 day simple moving average of $112.91. The firm has a market cap of $147.27 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 1.70 and a beta of 1.12. NIKE, Inc. has a 1 year low of $82.22 and a 1 year high of $131.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.72 and a quick ratio of 1.81.
NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.58 billion. NIKE had a return on equity of 34.01% and a net margin of 9.90%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 earnings per share. On average, research analysts forecast that NIKE, Inc. will post 3.71 EPS for the current year.
NIKE Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, September 1st. NIKE’s dividend payout ratio is currently 42.11%.
Insider Buying and Selling
In other NIKE news, CFO Matthew Friend sold 5,545 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total transaction of $593,315.00. Following the completion of the transaction, the chief financial officer now owns 42,119 shares in the company, valued at approximately $4,506,733. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total value of $11,943,800.00. Following the completion of the transaction, the chairman now directly owns 1,334,781 shares of the company’s stock, valued at approximately $144,930,520.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Friend sold 5,545 shares of NIKE stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $107.00, for a total value of $593,315.00. Following the completion of the transaction, the chief financial officer now directly owns 42,119 shares of the company’s stock, valued at $4,506,733. The disclosure for this sale can be found here. Insiders sold a total of 157,251 shares of company stock valued at $17,063,257 in the last three months. Insiders own 0.50% of the company’s stock.
About NIKE
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.
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