Bremer Bank National Association Trims Position in NIKE, Inc. (NYSE:NKE)

Bremer Bank National Association lowered its holdings in NIKE, Inc. (NYSE:NKE) by 78.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,720 shares of the footwear maker’s stock after selling 27,959 shares during the quarter. Bremer Bank National Association’s holdings in NIKE were worth $582,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in NIKE in the fourth quarter valued at approximately $1,315,097,000. Price T Rowe Associates Inc. MD raised its stake in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the period. Capital International Investors raised its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Longview Partners Guernsey LTD acquired a new position in shares of NIKE during the first quarter valued at approximately $533,533,000. Finally, Capital World Investors lifted its holdings in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on NKE shares. HSBC cut their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a report on Friday, June 28th. Stifel Nicolaus reissued a “hold” rating and set a $88.00 price objective (down previously from $117.00) on shares of NIKE in a research note on Friday, June 28th. Royal Bank of Canada cut their target price on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. UBS Group reiterated a “neutral” rating and set a $78.00 price target on shares of NIKE in a report on Friday, June 28th. Finally, Morgan Stanley restated an “equal weight” rating and set a $79.00 price objective (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has an average rating of “Hold” and a consensus target price of $96.30.

NIKE Stock Down 0.0 %

Shares of NKE traded down $0.03 during mid-day trading on Wednesday, reaching $78.47. The company’s stock had a trading volume of 13,524,627 shares, compared to its average volume of 11,468,959. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The stock has a market cap of $118.44 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The company’s 50 day moving average is $81.01 and its 200 day moving average is $91.23.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.89%. NIKE’s dividend payout ratio is presently 39.68%.

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.