Commerce Bank Raises Stake in NIKE, Inc. (NYSE:NKE)

Commerce Bank lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 134,494 shares of the footwear maker’s stock after purchasing an additional 2,178 shares during the quarter. Commerce Bank’s holdings in NIKE were worth $12,640,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NKE. Penserra Capital Management LLC raised its holdings in NIKE by 127.2% during the third quarter. Penserra Capital Management LLC now owns 18,171 shares of the footwear maker’s stock worth $1,736,000 after purchasing an additional 10,173 shares during the last quarter. Creative Planning raised its stake in shares of NIKE by 40.9% during the 3rd quarter. Creative Planning now owns 611,664 shares of the footwear maker’s stock worth $58,487,000 after buying an additional 177,484 shares during the last quarter. Resources Management Corp CT ADV boosted its position in shares of NIKE by 2.7% in the 3rd quarter. Resources Management Corp CT ADV now owns 16,035 shares of the footwear maker’s stock worth $1,533,000 after buying an additional 420 shares in the last quarter. Diversified Trust Co grew its stake in NIKE by 7.1% in the 3rd quarter. Diversified Trust Co now owns 14,572 shares of the footwear maker’s stock valued at $1,393,000 after acquiring an additional 966 shares during the last quarter. Finally, Kampmann Melissa S. purchased a new position in NIKE during the 3rd quarter valued at about $1,428,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Citigroup lowered their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Bank of America dropped their price target on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Oppenheimer restated an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. Sanford C. Bernstein lowered their target price on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Royal Bank of Canada decreased their price objective on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $97.19.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $4,237,200.00. Following the transaction, the executive vice president now 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. In the last three months, insiders sold 213,660 shares of company stock valued at $19,946,333. Company insiders own 0.50% of the company’s stock.

NIKE Stock Down 0.8 %

NYSE NKE traded down $0.58 on Wednesday, hitting $71.88. 12,747,027 shares of the stock traded hands, compared to its average volume of 11,067,241. The company has a market capitalization of $108.49 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The stock has a 50-day moving average of $90.63 and a 200 day moving average of $96.64. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a twelve month low of $71.67 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. As a group, analysts expect that NIKE, Inc. will post 3.17 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.06%. NIKE’s payout ratio is currently 39.68%.

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.