Community Bank N.A. Purchases 1,675 Shares of NIKE, Inc. (NYSE:NKE)

Community Bank N.A. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 8.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,460 shares of the footwear maker’s stock after purchasing an additional 1,675 shares during the quarter. Community Bank N.A.’s holdings in NIKE were worth $1,897,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE during the third quarter worth $30,000. VitalStone Financial LLC lifted its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares during the period. Triad Wealth Partners LLC bought a new position in shares of NIKE during the second quarter worth about $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in NIKE in the 2nd quarter valued at approximately $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Up 0.5 %

Shares of NKE opened at $78.77 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a market cap of $118.10 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.91 and a beta of 1.03. The business’s fifty day moving average is $80.18 and its 200-day moving average is $82.03.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is currently 42.41%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Telsey Advisory Group reduced their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Stifel Nicolaus reduced their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Needham & Company LLC started coverage on shares of NIKE in a research note on Friday, November 22nd. They issued a “buy” rating and a $84.00 price target on the stock. Guggenheim reduced their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Evercore ISI lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

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.