Community Bank N.A. Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Community Bank N.A. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,885 shares of the footwear maker’s stock after selling 1,211 shares during the period. Community Bank N.A.’s holdings in NIKE were worth $2,267,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. FMR LLC raised its stake in shares of NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after buying an additional 125,746 shares in the last quarter. Northern Trust Corp raised its stake in shares of NIKE by 4.5% during the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after buying an additional 674,198 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of NIKE by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock worth $766,829,000 after acquiring an additional 89,947 shares during the period. Newport Trust Company LLC acquired a new stake in shares of NIKE in the 3rd quarter worth approximately $679,775,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of NIKE by 37.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after acquiring an additional 1,583,541 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 0.7 %

Shares of NKE traded up $0.62 during trading hours on Wednesday, hitting $94.64. The stock had a trading volume of 6,444,777 shares, compared to its average volume of 9,523,251. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a market cap of $142.85 billion, a P/E ratio of 27.84, a P/E/G ratio of 1.82 and a beta of 1.08. The company’s fifty day simple moving average is $97.39 and its 200 day simple moving average is $103.38. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Equities research analysts forecast that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Analyst Ratings Changes

NKE has been the topic of a number of research reports. Williams Trading restated a “sell” rating and issued a $85.00 price target (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Robert W. Baird lowered their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. TheStreet cut NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Piper Sandler lowered their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Finally, Citigroup lowered their target price on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

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.