Bangor Savings Bank Has $762,000 Stock Holdings in NIKE, Inc. $NKE

Bangor Savings Bank cut its holdings in NIKE, Inc. (NYSE:NKE) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,723 shares of the footwear maker’s stock after selling 415 shares during the quarter. Bangor Savings Bank’s holdings in NIKE were worth $762,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new stake in NIKE in the first quarter worth about $25,000. Heck Capital Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at about $28,000. Saudi Central Bank bought a new position in shares of NIKE during the 1st quarter valued at about $30,000. Roxbury Financial LLC lifted its stake in NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock valued at $37,000 after acquiring an additional 201 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in NIKE in the 1st quarter valued at approximately $37,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

NIKE Stock Down 1.6%

Shares of NYSE:NKE opened at $73.12 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The business’s 50 day simple moving average is $75.40 and its two-hundred day simple moving average is $67.72. The firm has a market cap of $107.98 billion, a P/E ratio of 33.85, a PEG ratio of 2.70 and a beta of 1.24.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE’s payout ratio is 74.07%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup boosted their price target on NIKE from $57.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, June 27th. Piper Sandler increased their price objective on NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, June 27th. DZ Bank downgraded NIKE from a “buy” rating to a “hold” rating and set a $76.00 target price for the company. in a research report on Thursday, July 10th. Morgan Stanley upped their price objective on NIKE from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Finally, HSBC upgraded NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.67.

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.