Rockland Trust Co. Has $17.94 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Rockland Trust Co. boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 7.3% in the third quarter, Holdings Channel.com reports. The firm owned 202,970 shares of the footwear maker’s stock after purchasing an additional 13,721 shares during the period. Rockland Trust Co.’s holdings in NIKE were worth $17,943,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Eagle Asset Management Inc. increased its holdings in NIKE by 19.2% in the fourth quarter. Eagle Asset Management Inc. now owns 7,816 shares of the footwear maker’s stock worth $849,000 after buying an additional 1,257 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in shares of NIKE by 35.6% in the 4th quarter. Belpointe Asset Management LLC now owns 3,254 shares of the footwear maker’s stock valued at $353,000 after purchasing an additional 855 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of NIKE by 8.9% in the 4th quarter. Cetera Advisor Networks LLC now owns 111,481 shares of the footwear maker’s stock valued at $12,103,000 after purchasing an additional 9,131 shares during the last quarter. First National Bank of Omaha boosted its holdings in NIKE by 11.7% in the fourth quarter. First National Bank of Omaha now owns 46,752 shares of the footwear maker’s stock worth $5,076,000 after purchasing an additional 4,889 shares in the last quarter. Finally, Vinva Investment Management Ltd acquired a new stake in shares of NIKE in the fourth quarter worth about $2,888,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.2 %

Shares of NYSE NKE opened at $82.11 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The business has a fifty day moving average of $80.71 and a two-hundred day moving average of $86.36. The stock has a market cap of $123.93 billion, a PE ratio of 22.01, a PEG ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities research analysts expect that NIKE, Inc. will post 3.04 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. NIKE’s payout ratio is 39.68%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NKE shares. Wedbush decreased their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. HSBC dropped their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Truist Financial decreased their price target on shares of NIKE from $85.00 to $83.00 and set a “hold” rating for the company in a report on Wednesday. The Goldman Sachs Group dropped their price objective 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, Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.04.

NIKE 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.