Commerce Bank Has $16.25 Million Stake in Nike Inc (NYSE:NKE)

Commerce Bank grew its position in Nike Inc (NYSE:NKE) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 196,417 shares of the footwear maker’s stock after purchasing an additional 747 shares during the quarter. Commerce Bank’s holdings in Nike were worth $16,252,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Candriam Luxembourg S.C.A. raised its position in shares of Nike by 40.0% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 414,052 shares of the footwear maker’s stock worth $41,948,000 after acquiring an additional 118,289 shares in the last quarter. NEXT Financial Group Inc grew its stake in Nike by 27.4% during the fourth quarter. NEXT Financial Group Inc now owns 5,047 shares of the footwear maker’s stock worth $511,000 after purchasing an additional 1,087 shares during the period. RFG Advisory LLC grew its stake in Nike by 37.2% during the fourth quarter. RFG Advisory LLC now owns 4,266 shares of the footwear maker’s stock worth $432,000 after purchasing an additional 1,156 shares during the period. Montecito Bank & Trust increased its holdings in Nike by 11.4% in the fourth quarter. Montecito Bank & Trust now owns 4,883 shares of the footwear maker’s stock worth $495,000 after purchasing an additional 501 shares in the last quarter. Finally, Savior LLC acquired a new position in Nike in the fourth quarter valued at approximately $40,000. Institutional investors own 65.08% of the company’s stock.

Several analysts have recently commented on NKE shares. Raymond James reduced their price objective on shares of Nike from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Stifel Nicolaus restated a “buy” rating and issued a $110.00 price target on shares of Nike in a report on Thursday, February 6th. Jefferies Financial Group reiterated a “hold” rating and set a $83.00 price objective on shares of Nike in a report on Friday, May 1st. Deutsche Bank reissued a “neutral” rating and set a $84.00 price objective on shares of Nike in a research report on Wednesday, April 29th. Finally, Oppenheimer began coverage on Nike in a research report on Friday, May 15th. They issued a “buy” rating and a $115.00 target price for the company. Four analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $98.18.

In related news, CAO Hilary K. Krane sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $90.00, for a total value of $990,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. acquired 1,000 shares of Nike stock in a transaction on Friday, April 3rd. The shares were purchased at an average cost of $84.63 per share, with a total value of $84,630.00. Following the completion of the acquisition, the director now owns 12,851 shares of the company’s stock, valued at approximately $1,087,580.13. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.

Shares of NKE traded down $0.24 on Friday, reaching $94.02. 84,577 shares of the company’s stock traded hands, compared to its average volume of 6,607,220. The stock’s 50 day simple moving average is $86.79 and its two-hundred day simple moving average is $92.40. The stock has a market cap of $144.54 billion, a PE ratio of 34.78, a PEG ratio of 2.88 and a beta of 0.75. Nike Inc has a 52-week low of $60.00 and a 52-week high of $105.62. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.69.

Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The firm had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $9.56 billion. Nike had a return on equity of 51.49% and a net margin of 10.46%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Analysts forecast that Nike Inc will post 2.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.245 per share. The ex-dividend date is Friday, May 29th. This represents a $0.98 annualized dividend and a yield of 1.04%. Nike’s payout ratio is currently 39.36%.

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: 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.

Further Reading: Circuit Breakers

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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