Hills Bank & Trust Co Trims Holdings in NIKE, Inc. (NYSE:NKE)

Hills Bank & Trust Co reduced its stake in NIKE, Inc. (NYSE:NKE) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,057 shares of the footwear maker’s stock after selling 400 shares during the quarter. Hills Bank & Trust Co’s holdings in NIKE were worth $4,300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in NIKE during the 4th quarter valued at about $250,000. NewSquare Capital LLC grew its position in NIKE by 372.0% in the 4th quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 279 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of NIKE by 7.2% in the 4th quarter. Capital Advisors Ltd. LLC now owns 2,783 shares of the footwear maker’s stock worth $302,000 after buying an additional 188 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of NIKE by 10.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 54,511 shares of the footwear maker’s stock worth $5,934,000 after acquiring an additional 5,351 shares during the period. Finally, Bailard Inc. increased its position in NIKE by 1,216.4% during the fourth quarter. Bailard Inc. now owns 66,519 shares of the footwear maker’s stock valued at $7,222,000 after acquiring an additional 61,466 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on NKE. HSBC reduced their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Guggenheim cut their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, June 28th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 price objective (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Finally, Raymond James reissued a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.93.

NIKE Stock Up 0.8 %

Shares of NKE traded up $0.64 during mid-day trading on Friday, hitting $84.05. The company’s stock had a trading volume of 9,219,749 shares, compared to its average volume of 11,466,775. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average is $79.07 and its 200-day moving average is $90.13. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a market capitalization of $126.86 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. On average, equities research analysts forecast that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Activity

In other news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

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.