Security National Bank of Sioux City Iowa IA Boosts Holdings in NIKE, Inc. $NKE

Security National Bank of Sioux City Iowa IA lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 20.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,224 shares of the footwear maker’s stock after acquiring an additional 5,031 shares during the period. NIKE accounts for about 1.4% of Security National Bank of Sioux City Iowa IA’s investment portfolio, making the stock its 25th largest position. Security National Bank of Sioux City Iowa IA’s holdings in NIKE were worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NKE. Heck Capital Advisors LLC purchased a new position in NIKE during the fourth quarter worth approximately $28,000. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the 1st quarter valued at $25,000. Saudi Central Bank acquired a new stake in shares of NIKE during the 1st quarter worth $30,000. Putney Financial Group LLC purchased a new position in shares of NIKE in the 4th quarter worth $40,000. Finally, Minot DeBlois Advisors LLC acquired a new position in NIKE in the fourth quarter valued at $42,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

NIKE Trading Down 0.7%

NYSE:NKE opened at $73.60 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The business’s 50-day simple moving average is $75.54 and its 200 day simple moving average is $67.87. The stock has a market cap of $108.70 billion, a price-to-earnings ratio of 34.07, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the firm earned $0.99 EPS. NIKE’s quarterly revenue was down 11.9% on a year-over-year basis. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NKE. HSBC upgraded NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Friday, June 27th. Truist Financial decreased their price objective on shares of NIKE from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, June 24th. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group restated a “buy” rating and set a $115.00 target price on shares of NIKE in a report on Friday, August 22nd. Finally, Needham & Company LLC increased their price target on NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $78.22.

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.