NIKE, Inc. (NYSE:NKE) Shares Sold by CNB Bank

CNB Bank lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 40.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,610 shares of the footwear maker’s stock after selling 1,093 shares during the quarter. CNB Bank’s holdings in NIKE were worth $142,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Schaper Benz & Wise Investment Counsel Inc. WI grew its position in NIKE by 14.8% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 115,542 shares of the footwear maker’s stock worth $10,214,000 after buying an additional 14,853 shares during the last quarter. Resonant Capital Advisors LLC grew its position in NIKE by 4.9% in the third quarter. Resonant Capital Advisors LLC now owns 3,999 shares of the footwear maker’s stock worth $355,000 after buying an additional 185 shares during the last quarter. Wealth Alliance Advisory Group LLC acquired a new position in NIKE in the third quarter worth approximately $215,000. WestHill Financial Advisors Inc. acquired a new position in NIKE in the third quarter worth approximately $201,000. Finally, E&G Advisors LP acquired a new position in NIKE in the third quarter worth approximately $202,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. BMO Capital Markets decreased their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Bank of America decreased their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. HSBC decreased their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Finally, Robert W. Baird raised their price objective on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Stock Down 0.6 %

NKE stock opened at $82.92 on Monday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a fifty day simple moving average of $82.64 and a 200 day simple moving average of $85.24. The firm has a market cap of $125.16 billion, a PE ratio of 22.23, a PEG ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the business earned $0.94 EPS. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

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.