CNB Bank Decreases Position in NIKE, Inc. (NYSE:NKE)

CNB Bank cut its stake in NIKE, Inc. (NYSE:NKE) by 12.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,241 shares of the footwear maker’s stock after selling 454 shares during the quarter. CNB Bank’s holdings in NIKE were worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Oliver Luxxe Assets LLC lifted its stake in NIKE by 2.9% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after purchasing an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in NIKE in the 4th quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. lifted its stake in NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after purchasing an additional 176,476 shares in the last quarter. International Assets Investment Management LLC lifted its stake in NIKE by 10,184.3% in the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after purchasing an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its stake in NIKE by 55.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after purchasing an additional 69,363 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 1.3 %

NIKE stock traded down $1.21 during trading hours on Friday, hitting $94.53. The company had a trading volume of 11,241,901 shares, compared to its average volume of 11,692,355. The firm has a market capitalization of $142.68 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.85 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm’s fifty day moving average is $98.11 and its 200-day moving average is $103.37. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is 43.53%.

Analyst Ratings Changes

Several research firms have recently commented on NKE. Truist Financial reaffirmed a “hold” rating and set a $111.00 price target on shares of NIKE in a research report on Tuesday, March 19th. Sanford C. Bernstein lowered their target price on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. BMO Capital Markets boosted their price target on shares of NIKE from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, December 22nd. Barclays reduced their target price on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Finally, Oppenheimer lowered shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target on the stock. in a research note on Friday, February 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

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.