NIKE, Inc. (NYSE:NKE) Position Decreased by Norway Savings Bank

Norway Savings Bank cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 25.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,664 shares of the footwear maker’s stock after selling 3,678 shares during the period. Norway Savings Bank’s holdings in NIKE were worth $807,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE in the 3rd quarter worth $30,000. VitalStone Financial LLC increased its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Dunhill Financial LLC raised its holdings in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the period. Riverview Trust Co purchased a new position in shares of NIKE in the third quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of NIKE during the third quarter valued at approximately $54,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock traded up $0.29 during trading hours on Tuesday, reaching $72.29. 7,654,054 shares of the company’s stock were exchanged, compared to its average volume of 10,835,797. The business has a fifty day moving average price of $76.77 and a 200-day moving average price of $78.93. The stock has a market capitalization of $108.39 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. Analysts predict that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Analyst Ratings Changes

A number of research firms recently commented on NKE. Guggenheim decreased their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Morgan Stanley lowered their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, 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 report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.58.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price 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. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.