NIKE, Inc. (NYSE:NKE) Stock Holdings Lessened by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. cut its holdings in NIKE, Inc. (NYSE:NKE) by 10.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,493 shares of the footwear maker’s stock after selling 2,463 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in NIKE were worth $1,551,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. State Street Corp raised its holdings in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP grew its holdings in NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares during the period. Geode Capital Management LLC raised its holdings in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares in the last quarter. Legal & General Group Plc grew its position in NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NYSE NKE opened at $72.05 on Tuesday. The business’s 50-day simple moving average is $76.77 and its 200-day simple moving average is $78.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $107.43. The firm has a market cap of $108.03 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is 49.38%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NKE. Wells Fargo & Company cut their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Morgan Stanley dropped their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Finally, Bank of America lowered their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.58.

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.