Norway Savings Bank Purchases 355 Shares of NIKE, Inc. (NYSE:NKE)

Norway Savings Bank grew its holdings in NIKE, Inc. (NYSE:NKE) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,055 shares of the footwear maker’s stock after purchasing an additional 355 shares during the quarter. Norway Savings Bank’s holdings in NIKE were worth $1,415,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Eagle Asset Management Inc. raised its stake in NIKE by 33.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 6,559 shares of the footwear maker’s stock valued at $627,000 after purchasing an additional 1,648 shares during the last quarter. Mather Group LLC. raised its position in shares of NIKE by 14.1% during the third quarter. Mather Group LLC. now owns 11,194 shares of the footwear maker’s stock valued at $1,070,000 after buying an additional 1,386 shares during the last quarter. Westfield Capital Management Co. LP grew its position in NIKE by 6.9% during the third quarter. Westfield Capital Management Co. LP now owns 72,376 shares of the footwear maker’s stock worth $6,921,000 after buying an additional 4,662 shares in the last quarter. Bank of Nova Scotia increased its stake in NIKE by 121.0% during the third quarter. Bank of Nova Scotia now owns 612,510 shares of the footwear maker’s stock valued at $58,565,000 after acquiring an additional 335,407 shares during the period. Finally, Morningstar Investment Services LLC raised its holdings in NIKE by 1,743.3% in the 3rd quarter. Morningstar Investment Services LLC now owns 42,765 shares of the footwear maker’s stock valued at $3,833,000 after acquiring an additional 40,445 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Down 20.0 %

NKE stock opened at $75.36 on Friday. The company has a market cap of $113.75 billion, a P/E ratio of 20.20, a PEG ratio of 1.79 and a beta of 1.05. NIKE, Inc. has a twelve month low of $74.55 and a twelve month high of $123.39. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $93.28 and a 200-day moving average of $99.15.

NIKE (NYSE:NKE) last posted 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 return on equity of 42.87% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts expect that NIKE, Inc. will post 3.9 EPS for the current year.

NIKE Announces Dividend

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 $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling

In other news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated 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 owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now directly 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. In the last quarter, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. Telsey Advisory Group decreased their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday. Raymond James reiterated a “market perform” rating on shares of NIKE in a research note on Friday. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price objective (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Barclays downgraded shares of NIKE from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $109.00 to $80.00 in a report on Friday. Finally, Oppenheimer reissued an “outperform” rating and issued a $120.00 target price on shares of NIKE in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, NIKE has a consensus rating of “Hold” and a consensus price target of $98.96.

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.