FARMERS & MERCHANTS TRUST Co OF LONG BEACH Purchases 767 Shares of NIKE, Inc. (NYSE:NKE)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 3.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,820 shares of the footwear maker’s stock after purchasing an additional 767 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in NIKE were worth $2,333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NKE. Norges Bank bought a new stake in shares of NIKE during the fourth quarter valued at approximately $1,315,097,000. Price T Rowe Associates Inc. MD boosted its position in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Capital International Investors boosted its position in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in NIKE by 13,094.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock worth $169,722,000 after acquiring an additional 1,551,405 shares in the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd boosted its holdings in NIKE by 25.5% in the fourth quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 4,714,494 shares of the footwear maker’s stock worth $511,853,000 after acquiring an additional 957,612 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NKE shares. UBS Group reissued a “neutral” rating and issued a $78.00 target price on shares of NIKE in a research note on Friday. Truist Financial cut their target price on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday. HSBC cut their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday. Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $109.00 to $80.00 in a research note on Friday. Finally, Wells Fargo & Company cut their target price on NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $98.04.

NIKE Stock Performance

NKE traded down $0.81 during midday trading on Tuesday, reaching $76.02. The company had a trading volume of 10,759,713 shares, compared to its average volume of 10,576,786. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $93.28 and a two-hundred day moving average of $98.85. The company has a market cap of $114.74 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.43 and a beta of 1.01. NIKE, Inc. has a 1 year low of $74.29 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 3.9 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by corporate 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.