Community Bank N.A. Sells 2,620 Shares of NIKE, Inc. (NYSE:NKE)

Community Bank N.A. decreased its position in NIKE, Inc. (NYSE:NKE) by 12.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 18,840 shares of the footwear maker’s stock after selling 2,620 shares during the quarter. Community Bank N.A.’s holdings in NIKE were worth $1,426,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NKE. Pacer Advisors Inc. boosted its holdings in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after acquiring an additional 6,507,856 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after buying an additional 2,357,745 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in NIKE in the fourth quarter valued at about $156,438,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Needham & Company LLC cut their target price on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.38.

NIKE Stock Down 5.4 %

NKE stock opened at $68.02 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $74.70 and a two-hundred day moving average price of $77.43. The company has a market cap of $100.60 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a twelve month low of $65.17 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue was down 9.1% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.35%. NIKE’s dividend payout ratio is currently 53.16%.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

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.