NIKE, Inc. (NYSE:NKE) Shares Purchased by City Holding Co.

City Holding Co. boosted its holdings in NIKE, Inc. (NYSE:NKE) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,106 shares of the footwear maker’s stock after acquiring an additional 1,087 shares during the quarter. City Holding Co.’s holdings in NIKE were worth $1,597,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Garrison Point Advisors LLC lifted its holdings in shares of NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC lifted its stake in NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after buying an additional 128 shares during the last quarter. PSI Advisors LLC boosted its holdings in shares of NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after acquiring an additional 130 shares during the period. Chapin Davis Inc. grew its position in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC increased its holdings in shares of NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after acquiring an additional 133 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE stock opened at $70.89 on Monday. The stock has a 50-day moving average of $75.77 and a 200-day moving average of $77.94. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. The stock has a market cap of $104.85 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

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

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. Stifel Nicolaus lowered their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Bank of America reduced their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. TD Cowen cut their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Evercore ISI dropped their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $84.00 target price on shares of NIKE in a report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

NIKE 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.