City State Bank Buys 1,000 Shares of NIKE, Inc. (NYSE:NKE)

City State Bank raised its stake in NIKE, Inc. (NYSE:NKE) by 26.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,822 shares of the footwear maker’s stock after acquiring an additional 1,000 shares during the quarter. City State Bank’s holdings in NIKE were worth $306,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares during the period. Geode Capital Management LLC grew its position in shares of NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after purchasing an additional 347,178 shares in the last quarter. Capital World Investors grew its position in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of NIKE during the 4th quarter worth approximately $1,126,288,000. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Jefferies Financial Group restated a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. UBS Group decreased their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Needham & Company LLC decreased their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Barclays decreased their target price on shares of NIKE from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. Finally, Berenberg Bank assumed coverage on shares of NIKE in a research report on Tuesday, April 15th. They set a “hold” rating and a $58.00 target price on the stock. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.26.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NYSE:NKE opened at $62.82 on Friday. The company has a market cap of $92.92 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a 50 day simple moving average of $58.86 and a 200 day simple moving average of $69.22. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

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.