First Interstate Bank decreased its holdings in Nike Inc (NYSE:NKE) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,479 shares of the footwear maker’s stock after selling 934 shares during the period. Nike accounts for approximately 1.5% of First Interstate Bank’s holdings, making the stock its 20th biggest holding. First Interstate Bank’s holdings in Nike were worth $6,938,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the stock. Garrett Wealth Advisory Group LLC purchased a new position in shares of Nike during the third quarter worth approximately $26,000. Marquette Asset Management LLC bought a new position in Nike in the third quarter worth approximately $28,000. Candriam Luxembourg S.C.A. increased its holdings in Nike by 97.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 295,776 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 145,904 shares during the period. LFA Lugano Financial Advisors SA purchased a new position in Nike during the 4th quarter worth $33,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in Nike during the 4th quarter worth $37,000. 65.30% of the stock is owned by hedge funds and other institutional investors.
NYSE:NKE traded down $0.30 during trading hours on Friday, hitting $103.07. 77,297 shares of the company were exchanged, compared to its average volume of 5,898,812. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.98 and a quick ratio of 1.23. Nike Inc has a 52-week low of $77.07 and a 52-week high of $105.62. The stock has a market capitalization of $155.77 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 2.40 and a beta of 0.83. The company’s 50 day moving average price is $101.28 and its 200-day moving average price is $92.83.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.95%. Nike’s payout ratio is currently 39.36%.
In other news, insider Elliott Hill sold 90,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $102.50, for a total transaction of $9,225,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Hilary K. Krane sold 28,000 shares of Nike stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $101.00, for a total value of $2,828,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 436,916 shares of company stock valued at $43,122,614. Insiders own 3.80% of the company’s stock.
NKE has been the subject of several research reports. Barclays initiated coverage on Nike in a report on Tuesday, November 12th. They issued an “overweight” rating and a $111.00 target price for the company. Consumer Edge began coverage on Nike in a research note on Friday, December 27th. They set an “overweight” rating and a $110.00 price target on the stock. Goldman Sachs Group restated a “buy” rating and issued a $114.00 price objective on shares of Nike in a report on Tuesday, January 21st. Credit Suisse Group set a $112.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Wednesday, January 1st. Finally, Oppenheimer began coverage on shares of Nike in a report on Thursday, February 6th. They set a “buy” rating and a $115.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $107.54.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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