US Bancorp DE Has $114.64 Million Stake in NIKE, Inc. (NYSE:NKE)

US Bancorp DE reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,055,865 shares of the footwear maker’s stock after selling 29,435 shares during the period. US Bancorp DE owned about 0.07% of NIKE worth $114,636,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NKE. Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $1,315,097,000. Newport Trust Company LLC bought a new stake in NIKE during the 3rd quarter worth about $679,775,000. Van ECK Associates Corp boosted its stake in shares of NIKE by 117.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock worth $285,564,000 after buying an additional 1,610,273 shares during the last quarter. 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 valued at $553,786,000 after acquiring an additional 1,583,541 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of NIKE in the third quarter valued at about $97,724,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NKE stock traded up $0.37 during midday trading on Friday, reaching $91.77. The company had a trading volume of 3,028,356 shares, compared to its average volume of 9,176,848. The company has a market capitalization of $138.51 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $123.39. The stock has a 50 day moving average price of $93.32 and a 200-day moving average price of $102.04.

NIKE (NYSE:NKE) last issued its 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. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Equities research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.61%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 43.53%.

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Sanford C. Bernstein reduced their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Evercore ISI decreased their target price 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. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $113.00 in a research report on Thursday, April 11th. Wells Fargo & Company lowered their price objective on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Finally, Truist Financial reiterated a “hold” rating and issued a $111.00 target price on shares of NIKE in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price 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.