CoreFirst Bank & Trust Buys Shares of 6,723 NIKE, Inc. (NYSE:NKE)

CoreFirst Bank & Trust purchased a new position in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,723 shares of the footwear maker’s stock, valued at approximately $509,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Range Financial Group LLC purchased a new position in NIKE in the 4th quarter valued at about $642,000. Cacti Asset Management LLC acquired a new position in shares of NIKE in the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new position in shares of NIKE during the fourth quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its position in NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after acquiring an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its stake in NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $67.45 on Tuesday. The firm has a 50-day moving average of $74.61 and a two-hundred day moving average of $77.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market cap of $99.76 billion, a P/E ratio of 20.82, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1-year low of $65.17 and a 1-year high of $98.04.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. NIKE’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NKE. JPMorgan Chase & Co. reduced their price target on NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research note on Friday. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research note on Monday, March 17th. Needham & Company LLC dropped their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $75.00 to $115.00 in a report on Monday, February 24th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Company 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.