NIKE, Inc. $NKE Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its stake in NIKE, Inc. (NYSE:NKE) by 3.2% during the 2nd quarter, Holdings Channel reports. The firm owned 151,213 shares of the footwear maker’s stock after purchasing an additional 4,677 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in NIKE were worth $10,742,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC acquired a new position in NIKE during the first quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new position in NIKE during the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC boosted its position in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares during the last quarter. Saudi Central Bank acquired a new position in NIKE during the first quarter worth about $30,000. Finally, Matrix Trust Co boosted its position in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $69.03 on Thursday. The company’s 50 day simple moving average is $72.67 and its 200-day simple moving average is $67.57. The company has a market capitalization of $102.03 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is 82.05%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. KeyCorp set a $90.00 price target on shares of NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 target price on shares of NIKE in a research note on Wednesday, October 1st. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Finally, Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

NIKE Profile

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.