Field & Main Bank Buys 202 Shares of NIKE, Inc. (NYSE:NKE)

Field & Main Bank lifted its position in NIKE, Inc. (NYSE:NKE) by 16.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,430 shares of the footwear maker’s stock after purchasing an additional 202 shares during the quarter. Field & Main Bank’s holdings in NIKE were worth $155,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Newport Trust Company LLC purchased a new position in NIKE during the 3rd quarter valued at about $679,775,000. Flossbach Von Storch AG grew its holdings in shares of NIKE by 433.5% in the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after acquiring an additional 3,354,677 shares during the period. Van ECK Associates Corp increased its holdings in NIKE by 117.0% during the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock valued at $285,564,000 after buying an additional 1,610,273 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in NIKE by 37.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after buying an additional 1,583,541 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in NIKE during the 3rd quarter worth approximately $97,724,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Telsey Advisory Group lowered their price objective on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Evercore ISI dropped their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Williams Trading reiterated 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. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Finally, Piper Sandler lowered their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Performance

Shares of NKE stock traded down $0.86 on Tuesday, hitting $93.20. 2,005,644 shares of the stock were exchanged, compared to its average volume of 9,285,076. The firm’s 50 day moving average is $96.78 and its two-hundred day moving average is $103.33. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $140.67 billion, a PE ratio of 27.42, a P/E/G ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. Sell-side analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

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.