NIKE, Inc. (NYSE:NKE) Stock Position Lowered by Crossvault Capital Management LLC


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Crossvault Capital Management LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,762 shares of the footwear maker’s stock after selling 2,988 shares during the period. NIKE makes up about 3.0% of Crossvault Capital Management LLC’s holdings, making the stock its 14th biggest position. Crossvault Capital Management LLC’s holdings in NIKE were worth $8,340,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NKE. National Mutual Insurance Federation of Agricultural Cooperatives grew its position in NIKE by 73.3% during the 1st quarter. National Mutual Insurance Federation of Agricultural Cooperatives now owns 70,000 shares of the footwear maker’s stock worth $9,302,000 after acquiring an additional 29,600 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of NIKE by 36.3% in the first quarter. Park Avenue Securities LLC now owns 21,877 shares of the footwear maker’s stock valued at $2,907,000 after buying an additional 5,830 shares in the last quarter. James Hambro & Partners acquired a new stake in shares of NIKE in the first quarter valued at approximately $1,352,000. WASHINGTON TRUST Co raised its position in shares of NIKE by 2.2% in the first quarter. WASHINGTON TRUST Co now owns 141,259 shares of the footwear maker’s stock valued at $18,772,000 after buying an additional 3,108 shares in the last quarter. Finally, Legacy Financial Advisors Inc. raised its position in shares of NIKE by 8.4% in the first quarter. Legacy Financial Advisors Inc. now owns 6,210 shares of the footwear maker’s stock valued at $825,000 after buying an additional 483 shares in the last quarter. Institutional investors and hedge funds own 64.20% of the company’s stock.

Shares of NIKE stock traded down $1.54 during trading on Tuesday, hitting $131.49. 112,605 shares of the company’s stock were exchanged, compared to its average volume of 6,459,695. The stock has a market capitalization of $207.75 billion, a price-to-earnings ratio of 76.02, a PEG ratio of 2.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.97 and a current ratio of 2.66. The business has a 50-day simple moving average of $134.38 and a 200-day simple moving average of $135.89. NIKE, Inc. has a 52-week low of $84.11 and a 52-week high of $147.95.

NIKE (NYSE:NKE) last released its quarterly earnings results on Wednesday, March 17th. The footwear maker reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.15. The company had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.98 billion. NIKE had a net margin of 7.39% and a return on equity of 34.89%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 2.96 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 1st were given a $0.275 dividend. The ex-dividend date was Friday, February 26th. This represents a $1.10 annualized dividend and a dividend yield of 0.84%. NIKE’s dividend payout ratio (DPR) is 59.46%.

A number of equities research analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of NIKE from $183.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, April 28th. Piper Sandler boosted their price objective on shares of NIKE from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Monday, March 22nd. HSBC boosted their price objective on shares of NIKE from $158.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, March 31st. KeyCorp boosted their price objective on shares of NIKE from $174.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, January 25th. Finally, Zacks Investment Research cut shares of NIKE from a “buy” rating to a “hold” rating and set a $146.00 target price on the stock. in a research note on Monday, March 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the company. NIKE has a consensus rating of “Buy” and a consensus target price of $159.83.

In other news, CAO Hilary K. Krane sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, April 14th. The shares were sold at an average price of $133.54, for a total value of $2,003,100.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 114,094 shares of the firm’s stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $130.67, for a total transaction of $14,908,662.98. Following the completion of the transaction, the chairman now directly owns 1,537,729 shares in the company, valued at $200,935,048.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,482 shares of company stock worth $17,342,141. Company insiders own 3.80% of the company’s stock.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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