NIKE, Inc. $NKE Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.8% in the third quarter, HoldingsChannel reports. The firm owned 803,691 shares of the footwear maker’s stock after selling 23,246 shares during the period. US Bancorp DE’s holdings in NIKE were worth $56,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

NIKE Trading Up 0.8%

Shares of NIKE stock opened at $63.93 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $81.49. The firm has a market capitalization of $94.64 billion, a PE ratio of 37.61, a P/E/G ratio of 3.25 and a beta of 1.27. The firm’s 50-day moving average price is $63.23 and its 200 day moving average price is $67.17.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, March 2nd. NIKE’s payout ratio is 96.47%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NKE shares. BNP Paribas Exane dropped their price objective on shares of NIKE from $38.00 to $35.00 and set an “underperform” rating on the stock in a research note on Friday, December 19th. KeyCorp cut their price objective on shares of NIKE from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Royal Bank Of Canada reissued a “buy” rating on shares of NIKE in a research note on Wednesday, January 21st. Truist Financial set a $69.00 target price on NIKE in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company set a $65.00 price target on NIKE and gave the company an “overweight” rating in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned 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 target price of $74.61.

Insider Transactions at NIKE

In other NIKE news, CEO Elliott Hill bought 16,388 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was acquired at an average price of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the acquisition, the chief executive officer directly owned 241,587 shares of the company’s stock, valued at $14,760,965.70. This represents a 7.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy D. Cook purchased 50,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was acquired at an average cost of $58.97 per share, for a total transaction of $2,948,500.00. Following the completion of the purchase, the director owned 105,480 shares of the company’s stock, valued at approximately $6,220,155.60. This represents a 90.12% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 75,079 shares of company stock valued at $4,449,887 over the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

About NIKE

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).