Baker Boyer National Bank Reduces Position in NIKE, Inc. (NYSE:NKE)

Baker Boyer National Bank lowered its holdings in NIKE, Inc. (NYSE:NKE) by 50.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,139 shares of the footwear maker’s stock after selling 5,225 shares during the quarter. Baker Boyer National Bank’s holdings in NIKE were worth $483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Iron Horse Wealth Management LLC increased its stake in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in shares of NIKE in the fourth quarter worth $29,000. True Wealth Design LLC increased its stake in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter worth $33,000. Finally, Core Wealth Advisors Inc. increased its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a research note on Tuesday, April 30th. Sanford C. Bernstein lowered their price target on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Robert W. Baird lowered their price target on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Truist Financial reissued a “hold” rating and set a $99.00 price target on shares of NIKE in a report on Thursday. Finally, The Goldman Sachs Group lowered their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy 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 $114.81.

NIKE Price Performance

Shares of NYSE NKE traded up $0.43 during mid-day trading on Monday, reaching $97.61. The company’s stock had a trading volume of 3,360,462 shares, compared to its average volume of 9,137,532. The stock has a 50-day moving average of $93.60 and a two-hundred day moving average of $99.79. The stock has a market capitalization of $147.33 billion, a P/E ratio of 28.58, a P/E/G ratio of 1.80 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $123.39.

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

NIKE Dividend Announcement

The company also recently disclosed 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. This represents a $1.48 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is currently 43.53%.

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.