US Bancorp DE Lowers Stake in NIKE, Inc. $NKE

US Bancorp DE decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 803,691 shares of the footwear maker’s stock after selling 23,246 shares during the quarter. US Bancorp DE owned approximately 0.05% of NIKE worth $56,042,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of NIKE in the second quarter valued at approximately $31,000. Guerra Advisors Inc bought a new stake in NIKE during the 3rd quarter valued at $34,000. Abich Financial Wealth Management LLC purchased a new stake in shares of NIKE in the 3rd quarter worth $43,000. NewSquare Capital LLC lifted its holdings in shares of NIKE by 54.4% in the 2nd quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock worth $52,000 after buying an additional 258 shares during the period. Finally, Field & Main Bank grew its position in shares of NIKE by 36.4% during the 2nd quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock worth $53,000 after buying an additional 200 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, CEO Elliott Hill acquired 16,388 shares of the stock in a transaction dated Monday, December 29th. The stock was acquired at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the purchase, the chief executive officer owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. This represents a 7.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy D. Cook bought 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average cost of $58.97 per share, for a total transaction of $2,948,500.00. Following the completion of the transaction, the director owned 105,480 shares in the company, valued at $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 75,079 shares of company stock worth $4,449,887. Company insiders own 0.80% of the company’s stock.

NIKE Stock Up 0.8%

Shares of NKE stock opened at $63.93 on Friday. The stock’s fifty day moving average price is $63.23 and its 200 day moving average price is $67.17. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $81.49. The company has a market cap of $94.64 billion, a price-to-earnings ratio of 37.61, a price-to-earnings-growth ratio of 3.25 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.6%. NIKE’s dividend payout ratio (DPR) is currently 96.47%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Needham & Company LLC downgraded NIKE from a “buy” rating to a “hold” rating in a report on Thursday, January 8th. Jefferies Financial Group reiterated a “buy” rating and set a $110.00 price objective on shares of NIKE in a research note on Monday, January 12th. DZ Bank reissued a “buy” rating on shares of NIKE in a research note on Friday, December 19th. Argus cut their price target on NIKE from $85.00 to $70.00 in a report on Tuesday, December 23rd. Finally, Stifel Nicolaus set a $65.00 price target on NIKE and gave the stock a “hold” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.61.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).