Montecito Bank & Trust Sells 873 Shares of NIKE, Inc. (NYSE:NKE)

Montecito Bank & Trust decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,894 shares of the footwear maker’s stock after selling 873 shares during the quarter. Montecito Bank & Trust’s holdings in NIKE were worth $1,118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors increased its stake in shares of NIKE by 34.9% in 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 buying an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the last quarter. Northern Trust Corp increased its position in NIKE by 4.5% in the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after acquiring an additional 674,198 shares during the period. Norges Bank bought a new position in shares of NIKE during the fourth quarter valued at $1,315,097,000. Finally, Fisher Asset Management LLC lifted its holdings in shares of NIKE by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after purchasing an additional 219,091 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.8 %

Shares of NYSE NKE opened at $95.55 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a 50-day moving average price of $93.50 and a 200-day moving average price of $100.14. The stock has a market capitalization of $144.22 billion, a P/E ratio of 28.10, a P/E/G ratio of 1.77 and a beta of 1.05. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, equities research analysts forecast that NIKE, Inc. will post 3.76 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.55%. NIKE’s payout ratio is 43.53%.

Insider Buying and Selling

In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, 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.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NKE shares. Stifel Nicolaus lowered their target price on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Wells Fargo & Company cut their price objective on NIKE from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, June 10th. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $113.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $122.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Truist Financial reiterated a “hold” rating and set a $99.00 price objective on shares of NIKE in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $114.81.

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.