CNB Bank Sells 561 Shares of NIKE, Inc. (NYSE:NKE)

CNB Bank lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 34.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,049 shares of the footwear maker’s stock after selling 561 shares during the quarter. CNB Bank’s holdings in NIKE were worth $79,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NKE. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the third quarter worth approximately $30,000. VitalStone Financial LLC grew its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Dunhill Financial LLC increased its stake in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares in the last quarter. Riverview Trust Co acquired a new position in shares of NIKE during the 3rd quarter valued at $52,000. Finally, Catalyst Capital Advisors LLC bought a new position in NIKE during the third quarter worth $54,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on NKE. Guggenheim dropped their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. TD Cowen dropped their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Wells Fargo & Company cut their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Finally, Sanford C. Bernstein lowered their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $71.25 on Friday. The stock has a market capitalization of $105.39 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. The company has a fifty day moving average of $75.97 and a 200-day moving average of $78.01. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

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.