Citizens & Northern Corp Lowers Position in NIKE, Inc. (NYSE:NKE)

Citizens & Northern Corp lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 17,190 shares of the footwear maker’s stock after selling 416 shares during the quarter. Citizens & Northern Corp’s holdings in NIKE were worth $1,091,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NKE. Riverwater Partners LLC increased its stake in NIKE by 7.6% in the 1st quarter. Riverwater Partners LLC now owns 4,984 shares of the footwear maker’s stock valued at $316,000 after buying an additional 351 shares during the last quarter. Brady Family Wealth LLC increased its position in shares of NIKE by 9.3% during the 1st quarter. Brady Family Wealth LLC now owns 47,829 shares of the footwear maker’s stock valued at $3,036,000 after purchasing an additional 4,051 shares during the last quarter. Proathlete Wealth Management LLC increased its holdings in NIKE by 13.2% during the first quarter. Proathlete Wealth Management LLC now owns 6,341 shares of the footwear maker’s stock worth $404,000 after buying an additional 740 shares during the last quarter. Osborne Partners Capital Management LLC raised its holdings in shares of NIKE by 5.6% in the 1st quarter. Osborne Partners Capital Management LLC now owns 77,679 shares of the footwear maker’s stock worth $4,931,000 after purchasing an additional 4,117 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in shares of NIKE by 286.8% in the 1st quarter. Retirement Systems of Alabama now owns 997,071 shares of the footwear maker’s stock worth $63,294,000 after purchasing an additional 739,295 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley cut their price target on NIKE from $70.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday. Royal Bank Of Canada cut their price objective on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a report on Tuesday, May 20th. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. Barclays dropped their price objective on NIKE from $60.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Berenberg Bank assumed coverage on NIKE in a report on Tuesday, April 15th. They set a “hold” rating and a $58.00 target price for the company. Seventeen 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 company’s stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $79.15.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company’s stock, 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 accessible through this link. 1.10% of the stock is owned by insiders.

NIKE Stock Performance

NKE stock opened at $59.47 on Friday. The stock’s 50 day simple moving average is $59.67 and its 200 day simple moving average is $68.23. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The stock has a market capitalization of $87.96 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 2.10 and a beta of 1.21.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The company’s revenue was down 9.1% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. NIKE’s payout ratio is 53.16%.

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.