City State Bank Sells 695 Shares of NIKE, Inc. $NKE

City State Bank decreased its position in NIKE, Inc. (NYSE:NKE) by 14.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,127 shares of the footwear maker’s stock after selling 695 shares during the quarter. City State Bank’s holdings in NIKE were worth $293,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Stone House Investment Management LLC bought a new stake in shares of NIKE in the 1st quarter valued at approximately $25,000. Mascoma Wealth Management LLC acquired a new stake in NIKE in the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC lifted its holdings in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank acquired a new stake in NIKE in the 1st quarter worth approximately $30,000. Finally, Matrix Trust Co lifted its holdings in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. The Goldman Sachs Group set a $85.00 target price on NIKE and gave the stock a “buy” rating in a report on Thursday, September 25th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Robert W. Baird upped their price target on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, June 27th. Finally, Hsbc Global Res upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Stock Performance

Shares of NYSE NKE opened at $69.15 on Friday. The business has a fifty day simple moving average of $72.38 and a 200 day simple moving average of $67.78. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $102.22 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.57 and a beta of 1.29. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

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.