Stock Yards Bank & Trust Co. Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Stock Yards Bank & Trust Co. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,702 shares of the footwear maker’s stock after selling 9,016 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in NIKE were worth $17,614,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NKE. Price T Rowe Associates Inc. MD raised its position in shares of NIKE by 87.5% during the 4th 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 buying an additional 7,996,434 shares in the last quarter. Capital International Investors raised its position in 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 during the period. Longview Partners Guernsey LTD bought a new stake in shares of NIKE in the 1st quarter valued at approximately $533,533,000. Capital World Investors boosted its holdings in shares of NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares during the period. Finally, Jennison Associates LLC increased its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $79.82 on Tuesday. The stock’s 50-day moving average is $77.36 and its 200 day moving average is $87.47. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a market cap of $120.48 billion, a P/E ratio of 21.40, a PEG ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the business earned $0.66 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.85%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on NKE shares. Guggenheim dropped their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Telsey Advisory Group cut their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Bank of America decreased their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group cut their target price on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Piper Sandler restated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, August 23rd. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Company Profile

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.