American National Bank grew its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 53.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,975 shares of the footwear maker’s stock after purchasing an additional 3,845 shares during the period. American National Bank’s holdings in NIKE were worth $1,211,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. America First Investment Advisors LLC purchased a new position in NIKE during the 1st quarter worth $27,000. Tucker Asset Management LLC acquired a new position in shares of NIKE during the first quarter worth about $29,000. Financial Freedom LLC purchased a new position in NIKE during the fourth quarter worth about $29,000. Ruedi Wealth Management Inc. acquired a new stake in NIKE in the fourth quarter valued at about $30,000. Finally, Worth Asset Management LLC purchased a new stake in NIKE in the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 63.42% of the company’s stock.
NIKE Trading Down 0.8 %
Shares of NKE opened at $95.51 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.72 and a quick ratio of 1.81. NIKE, Inc. has a 12 month low of $82.22 and a 12 month high of $131.31. The stock has a market cap of $146.13 billion, a PE ratio of 29.57, a P/E/G ratio of 1.70 and a beta of 1.12. The stock’s 50-day moving average is $104.70 and its two-hundred day moving average is $112.67.
NIKE Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, September 1st. NIKE’s dividend payout ratio (DPR) is currently 42.11%.
Insider Buying and Selling
In other news, VP Johanna Nielsen sold 1,706 shares of the business’s 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 sale, the vice president now owns 954 shares of the company’s stock, valued at approximately $102,078. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Monique S. Matheson sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total transaction of $4,343,600.00. Following the transaction, the executive vice president now directly owns 44,736 shares in the company, valued at $4,857,882.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Johanna Nielsen sold 1,706 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total transaction of $182,542.00. Following the sale, the vice president now owns 954 shares of the company’s stock, valued at approximately $102,078. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,251 shares of company stock worth $17,063,257. Insiders own 0.50% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. BNP Paribas downgraded NIKE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 25th. Royal Bank of Canada reduced their target price on NIKE from $138.00 to $134.00 and set an “outperform” rating for the company in a report on Friday, June 30th. TheStreet downgraded shares of NIKE from a “b-” rating to a “c+” rating in a report on Tuesday, September 5th. Williams Trading dropped their target price on shares of NIKE from $95.00 to $91.00 and set a “sell” rating for the company in a report on Thursday, September 7th. Finally, JPMorgan Chase & Co. lowered their price target on NIKE from $152.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, June 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $129.07.
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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