Security National Bank of SO Dak Cuts Stake in NIKE, Inc. (NYSE:NKE)

Security National Bank of SO Dak reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 5.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,651 shares of the footwear maker’s stock after selling 1,771 shares during the quarter. NIKE accounts for about 1.3% of Security National Bank of SO Dak’s investment portfolio, making the stock its 25th biggest holding. Security National Bank of SO Dak’s holdings in NIKE were worth $2,319,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NKE. Norges Bank bought a new stake in NIKE in the 4th quarter worth about $1,126,288,000. Wellington Management Group LLP lifted its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of NIKE by 6,029.6% during the 4th 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. Bank of New York Mellon Corp grew its stake in shares of 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 worth $1,541,246,000 after acquiring an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on NKE. Citigroup dropped their target price on shares of NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. BMO Capital Markets lowered their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Needham & Company LLC cut their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 17th. Bank of America lowered their target price on NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Cfra Research raised NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.30.

NIKE Price Performance

Shares of NIKE stock opened at $62.40 on Friday. The company has a market capitalization of $92.30 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.52 and a beta of 1.23. 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 stock’s 50-day simple moving average is $61.29 and its 200-day simple moving average is $70.85. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping 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 company had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the previous year, the firm earned $0.98 EPS. The firm’s revenue was down 9.1% compared to the same quarter last year. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by company insiders.

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.