Commerce Bank Has $11.22 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Commerce Bank reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 126,863 shares of the footwear maker’s stock after selling 2,030 shares during the period. Commerce Bank’s holdings in NIKE were worth $11,215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NKE. Transcendent Capital Group LLC boosted its holdings in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC boosted its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in NIKE in the second quarter valued at $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in NIKE during the second quarter worth $46,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NKE stock opened at $73.33 on Thursday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a market cap of $109.95 billion, a PE ratio of 21.01, a P/E/G ratio of 1.86 and a beta of 1.03. The business’s 50-day moving average price is $80.61 and its two-hundred day moving average price is $82.83.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the company earned $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 45.85%.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. Wells Fargo & Company upped their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Royal Bank of Canada dropped their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group lifted their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.30.

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.