Community Trust & Investment Co. Increases Holdings in NIKE, Inc. (NYSE:NKE)

Community Trust & Investment Co. lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 18.7% during the first quarter, HoldingsChannel reports. The firm owned 147,015 shares of the footwear maker’s stock after purchasing an additional 23,188 shares during the quarter. Community Trust & Investment Co.’s holdings in NIKE were worth $9,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in shares of NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after buying an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC lifted its holdings in NIKE by 40.9% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock valued at $23,458,000 after purchasing an additional 90,000 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock valued at $460,160,000 after purchasing an additional 463,470 shares during the last quarter. Markel Group Inc. increased its stake in shares of NIKE by 0.8% in the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker’s stock worth $32,720,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in shares of NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock worth $18,042,000 after purchasing an additional 7,536 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on NKE shares. Cfra Research raised shares of NIKE to a “moderate buy” rating in a report on Friday, March 21st. Barclays cut their price target on NIKE from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Needham & Company LLC decreased their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. BMO Capital Markets dropped their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Berenberg Bank started coverage on NIKE in a report on Tuesday, April 15th. They set a “hold” rating and a $58.00 target price for the company. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $80.26.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

NYSE NKE opened at $60.44 on Monday. The company has a 50-day simple moving average of $59.38 and a two-hundred day simple moving average of $68.60. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The firm has a market cap of $89.40 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.52 and a beta of 1.21. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend 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.