Capital City Trust Co. FL Acquires 125 Shares of NIKE, Inc. (NYSE:NKE)

Capital City Trust Co. FL grew its holdings in shares of NIKE, Inc. (NYSE:NKEGet Rating) by 5.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,362 shares of the footwear maker’s stock after buying an additional 125 shares during the quarter. Capital City Trust Co. FL’s holdings in NIKE were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Evergreen Capital Management LLC boosted its holdings in shares of NIKE by 7.6% in the first quarter. Evergreen Capital Management LLC now owns 104,831 shares of the footwear maker’s stock valued at $14,106,000 after purchasing an additional 7,415 shares during the period. CWM LLC boosted its holdings in shares of NIKE by 12.5% in the first quarter. CWM LLC now owns 17,836 shares of the footwear maker’s stock valued at $2,400,000 after purchasing an additional 1,986 shares during the period. Evanson Asset Management LLC boosted its holdings in shares of NIKE by 33.3% in the second quarter. Evanson Asset Management LLC now owns 2,403 shares of the footwear maker’s stock valued at $246,000 after purchasing an additional 600 shares during the period. WealthPLAN Partners LLC boosted its holdings in shares of NIKE by 4.8% in the first quarter. WealthPLAN Partners LLC now owns 2,747 shares of the footwear maker’s stock valued at $343,000 after purchasing an additional 126 shares during the period. Finally, Executive Wealth Management LLC boosted its holdings in shares of NIKE by 4.2% in the first quarter. Executive Wealth Management LLC now owns 11,937 shares of the footwear maker’s stock valued at $1,606,000 after purchasing an additional 476 shares during the period. Institutional investors own 64.19% of the company’s stock.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. bought 10,000 shares of the stock in a transaction on Thursday, June 30th. The shares were bought at an average cost of $102.96 per share, for a total transaction of $1,029,600.00. Following the completion of the transaction, the director now owns 25,681 shares of the company’s stock, valued at approximately $2,644,115.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John W. Rogers, Jr. bought 10,000 shares of the stock in a transaction on Thursday, June 30th. The shares were bought at an average cost of $102.96 per share, for a total transaction of $1,029,600.00. Following the completion of the transaction, the director now owns 25,681 shares of the company’s stock, valued at approximately $2,644,115.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 30,000 shares of the company’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the transaction, the executive vice president now owns 60,330 shares in the company, valued at $6,466,772.70. The disclosure for this sale can be found here. Insiders have sold a total of 59,561 shares of company stock worth $6,374,094 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on NKE shares. Seaport Res Ptn lowered NIKE from a “buy” rating to a “neutral” rating in a report on Wednesday, June 22nd. Piper Sandler began coverage on NIKE in a report on Wednesday, August 3rd. They set a “neutral” rating and a $115.00 target price for the company. Barclays lowered NIKE from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $125.00 to $110.00 in a report on Tuesday. Royal Bank of Canada initiated coverage on NIKE in a report on Thursday. They set an “outperform” rating and a $125.00 price objective for the company. Finally, Citigroup cut their target price on NIKE from $116.00 to $113.00 and set a “neutral” rating on the stock in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.81.

NIKE Price Performance

Shares of NKE opened at $97.17 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. The stock has a market cap of $152.42 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. NIKE, Inc. has a 1-year low of $97.83 and a 1-year high of $179.10. The firm has a fifty day moving average price of $109.72 and a 200 day moving average price of $115.81.

NIKE (NYSE:NKEGet Rating) last posted its quarterly earnings data on Monday, June 27th. The footwear maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $12.10 billion. NIKE had a net margin of 12.94% and a return on equity of 40.74%. NIKE’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 earnings per share. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.78 EPS for the current year.

NIKE announced that its Board of Directors has initiated a stock repurchase plan on Monday, June 27th that allows the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization allows the footwear maker to buy up to 11% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be paid a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.26%. NIKE’s dividend payout ratio (DPR) is 32.45%.

NIKE Profile

(Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

See Also

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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