Country Club Bank Lowers Holdings in NIKE, Inc. $NKE

Country Club Bank trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 2.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 34,863 shares of the footwear maker’s stock after selling 695 shares during the period. Country Club Bank’s holdings in NIKE were worth $2,512,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new position in NIKE in the first quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new position in shares of NIKE during the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC boosted its position in shares of 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 buying an additional 362 shares during the period. Saudi Central Bank purchased a new position in shares of NIKE during the first quarter worth $30,000. Finally, Matrix Trust Co boosted its position in shares of 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 buying an additional 153 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,378 shares of company stock worth $14,794,264. 0.80% of the stock is owned by company insiders.

NIKE Stock Down 3.0%

NIKE stock opened at $69.03 on Wednesday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $84.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock has a market cap of $101.95 billion, a PE ratio of 35.40, a P/E/G ratio of 2.61 and a beta of 1.29. The stock’s fifty day moving average is $74.28 and its two-hundred day moving average is $67.28.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE’s dividend payout ratio is 82.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Sanford C. Bernstein restated a “buy” rating and set a $90.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Truist Financial restated a “buy” rating and set a $85.00 price target on shares of NIKE in a research report on Wednesday, October 1st. KeyCorp set a $90.00 price target on NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Evercore ISI reduced their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 24th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of NIKE in a research note on Saturday, September 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.57.

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.