City Holding Co. Trims Stock Position in NIKE, Inc. (NYSE:NKE)

City Holding Co. trimmed its stake in NIKE, Inc. (NYSE:NKE) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,878 shares of the footwear maker’s stock after selling 228 shares during the period. City Holding Co.’s holdings in NIKE were worth $1,325,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after acquiring an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC lifted its stake in shares of NIKE by 40.9% in the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock valued at $23,458,000 after purchasing an additional 90,000 shares during the period. Janus Henderson Group PLC boosted its position in shares of NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock valued at $460,160,000 after purchasing an additional 463,470 shares in the last quarter. Markel Group Inc. boosted its position in shares of NIKE by 0.8% during the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker’s stock valued at $32,720,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock worth $18,042,000 after purchasing an additional 7,536 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.2%

Shares of NIKE stock opened at $62.82 on Monday. The company has a market capitalization of $92.92 billion, a P/E ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The business’s fifty day moving average price is $58.86 and its two-hundred day moving average price is $69.15. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last released its 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 net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. NIKE’s payout ratio is currently 53.16%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NKE. China Renaissance began coverage on NIKE in a research report on Wednesday, March 19th. They set a “hold” rating for the company. BMO Capital Markets lowered their price target on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. UBS Group dropped their price objective on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Barclays cut their price objective on shares of NIKE from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a report on Friday, May 23rd. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.26.

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

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.