Bangor Savings Bank Has $707,000 Position in NIKE, Inc. (NYSE:NKE)

Bangor Savings Bank boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 591.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,138 shares of the footwear maker’s stock after acquiring an additional 9,528 shares during the quarter. Bangor Savings Bank’s holdings in NIKE were worth $707,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC bought a new stake in NIKE in the fourth quarter worth $28,000. Roxbury Financial LLC acquired a new stake in shares of NIKE in the fourth quarter worth about $30,000. LFA Lugano Financial Advisors SA boosted its stake in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in shares of NIKE during the 4th quarter valued at about $30,000. Finally, EnRich Financial Partners LLC raised its stake in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 273 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. China Renaissance began coverage on shares of NIKE in a report on Wednesday, March 19th. They set a “hold” rating for the company. Royal Bank of Canada lowered their target price on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 20th. Bank of America cut their target price on shares of NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Williams Trading decreased their price target on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.26.

NIKE Stock Up 0.2%

Shares of NKE opened at $62.82 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $58.86 and a two-hundred day moving average price of $69.19. The stock has a market cap of $92.92 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 2.52 and a beta of 1.21. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. NIKE’s dividend payout ratio is presently 53.16%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

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.