Field & Main Bank Sells 490 Shares of NIKE, Inc. (NYSE:NKE)

Field & Main Bank cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 17.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,385 shares of the footwear maker’s stock after selling 490 shares during the period. Field & Main Bank’s holdings in NIKE were worth $346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Amundi bought a new stake in shares of NIKE during the second quarter valued at about $615,556,000. Parnassus Investments CA bought a new stake in shares of NIKE during the second quarter valued at about $553,035,000. Alliancebernstein L.P. grew its holdings in shares of NIKE by 15.2% during the second quarter. Alliancebernstein L.P. now owns 23,084,530 shares of the footwear maker’s stock worth $3,566,329,000 after purchasing an additional 3,045,282 shares in the last quarter. Vontobel Asset Management Inc. grew its holdings in shares of NIKE by 32.2% during the second quarter. Vontobel Asset Management Inc. now owns 3,316,232 shares of the footwear maker’s stock worth $530,190,000 after purchasing an additional 806,859 shares in the last quarter. Finally, AKO Capital LLP grew its holdings in shares of NIKE by 33.4% during the second quarter. AKO Capital LLP now owns 3,193,614 shares of the footwear maker’s stock worth $493,381,000 after purchasing an additional 798,909 shares in the last quarter. Hedge funds and other institutional investors own 64.38% of the company’s stock.

In other NIKE news, Chairman Mark G. Parker sold 100,000 shares of the stock in a transaction on Wednesday, October 13th. The stock was sold at an average price of $154.99, for a total value of $15,499,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Hilary K. Krane sold 10,750 shares of the stock in a transaction on Monday, November 15th. The stock was sold at an average price of $169.70, for a total value of $1,824,275.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 247,589 shares of company stock valued at $40,048,835. 3.70% of the stock is owned by corporate insiders.

Several research analysts have recently commented on the company. Telsey Advisory Group cut their price objective on NIKE from $180.00 to $176.00 and set an “outperform” rating for the company in a report on Friday, September 24th. Wedbush assumed coverage on NIKE in a report on Monday, October 4th. They set an “outperform” rating and a $170.00 price objective for the company. Barclays cut their price objective on NIKE from $194.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, September 27th. Zacks Investment Research lowered NIKE from a “buy” rating to a “hold” rating and set a $164.00 price objective for the company. in a report on Tuesday, September 21st. Finally, JPMorgan Chase & Co. set a $192.00 price objective on NIKE in a report on Friday, September 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $174.94.

Shares of NIKE stock traded down $0.12 during midday trading on Thursday, reaching $172.03. 4,637,831 shares of the company’s stock traded hands, compared to its average volume of 6,407,635. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.38 and a current ratio of 3.19. The company has a market cap of $272.29 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 3.22 and a beta of 0.93. The stock has a 50 day moving average of $161.13 and a 200-day moving average of $155.92. NIKE, Inc. has a 12 month low of $125.44 and a 12 month high of $179.10.

NIKE (NYSE:NKE) last announced its earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The company had revenue of $12.25 billion during the quarter, compared to the consensus estimate of $12.47 billion. NIKE had a return on equity of 48.98% and a net margin of 13.17%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 3.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 28th. Investors of record on Monday, December 6th will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, December 3rd. This is an increase from NIKE’s previous quarterly dividend of $0.28. NIKE’s dividend payout ratio is currently 29.18%.

About NIKE

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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