NIKE, Inc. (NYSE:NKE) Shares Purchased by Farmers Trust Co.

Farmers Trust Co. boosted its position in NIKE, Inc. (NYSE:NKEFree Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,671 shares of the footwear maker’s stock after purchasing an additional 365 shares during the period. Farmers Trust Co.’s holdings in NIKE were worth $1,567,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in NKE. Cim LLC purchased a new position in NIKE in the fourth quarter valued at about $14,275,000. TKG Advisors LLC purchased a new position in NIKE in the fourth quarter valued at about $1,012,000. Louisiana State Employees Retirement System purchased a new position in shares of NIKE during the 4th quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. increased its stake in shares of NIKE by 2,332.5% during 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. Finally, Brown Advisory Inc. increased its stake in shares of NIKE by 4.3% during the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after purchasing an additional 192,752 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NKE. Piper Sandler dropped their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Williams Trading reissued a “sell” rating and set a $85.00 price objective (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Barclays lowered their target price on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. StockNews.com raised shares of NIKE from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. Finally, Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $114.63.

Check Out Our Latest Research Report on NKE

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last quarter. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Up 0.8 %

Shares of NYSE:NKE traded up $0.74 during midday trading on Thursday, hitting $95.52. 2,175,456 shares of the company’s stock traded hands, compared to its average volume of 9,065,899. 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 company has a market cap of $144.17 billion, a PE ratio of 27.84, a P/E/G ratio of 1.77 and a beta of 1.05. The firm’s fifty day moving average price is $93.43 and its two-hundred day moving average price is $100.17. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $123.39.

NIKE (NYSE:NKEGet Free Report) last posted its earnings results 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. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. On average, equities research analysts anticipate that NIKE, Inc. will post 3.76 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.55%. NIKE’s dividend payout ratio is currently 43.53%.

About NIKE

(Free Report)

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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