Canandaigua National Bank & Trust Co. Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Canandaigua National Bank & Trust Co. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,391 shares of the footwear maker’s stock after selling 359 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in NIKE were worth $3,685,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. America First Investment Advisors LLC bought a new stake in NIKE in the 1st quarter worth about $27,000. Tucker Asset Management LLC bought a new stake in shares of NIKE in the first quarter worth approximately $29,000. Financial Freedom LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $29,000. Ruedi Wealth Management Inc. bought a new position in NIKE during the fourth quarter valued at approximately $30,000. Finally, Venturi Wealth Management LLC purchased a new stake in NIKE in the first quarter worth approximately $35,000. Institutional investors own 63.42% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several research analyst reports. Telsey Advisory Group reissued an “outperform” rating and set a $135.00 price target on shares of NIKE in a report on Friday, June 30th. Stifel Nicolaus lowered their target price on NIKE from $143.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, August 28th. StockNews.com assumed coverage on NIKE in a research note on Thursday, August 17th. They set a “hold” rating for the company. Erste Group Bank reiterated a “hold” rating on shares of NIKE in a research note on Friday, September 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of NIKE from $152.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $130.28.

Insider Transactions at NIKE

In related news, VP Johanna Nielsen sold 1,706 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total value of $182,542.00. Following the completion of the transaction, the vice president now directly owns 954 shares of the company’s stock, valued at $102,078. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Johanna Nielsen sold 1,706 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total value of $182,542.00. Following the completion of the transaction, the vice president now owns 954 shares of the company’s stock, valued at approximately $102,078. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total value of $11,943,800.00. Following the completion of the transaction, the chairman now owns 1,334,781 shares of the company’s stock, valued at approximately $144,930,520.98. The disclosure for this sale can be found here. Insiders have sold 157,251 shares of company stock valued at $17,063,257 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE opened at $96.13 on Thursday. The company has a market cap of $147.08 billion, a P/E ratio of 29.76, a P/E/G ratio of 1.73 and a beta of 1.12. NIKE, Inc. has a 52-week low of $82.22 and a 52-week high of $131.31. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.72. The firm’s fifty day moving average is $105.24 and its two-hundred day moving average is $113.14.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.58 billion. NIKE had a net margin of 9.90% and a return on equity of 34.01%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, analysts anticipate that NIKE, Inc. will post 3.71 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, September 1st. NIKE’s payout ratio is 42.11%.

About NIKE

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.