Crews Bank & Trust Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Crews Bank & Trust decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,746 shares of the footwear maker’s stock after selling 493 shares during the quarter. Crews Bank & Trust’s holdings in NIKE were worth $492,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Heartland Bank & Trust Co purchased a new stake in NIKE during the 1st quarter worth about $235,000. Absher Wealth Management LLC increased its holdings in NIKE by 7.0% during the 1st quarter. Absher Wealth Management LLC now owns 419,650 shares of the footwear maker’s stock worth $26,639,000 after purchasing an additional 27,630 shares during the period. Cullinan Associates Inc. increased its holdings in NIKE by 5.0% during the 1st quarter. Cullinan Associates Inc. now owns 10,520 shares of the footwear maker’s stock worth $668,000 after purchasing an additional 500 shares during the period. Sawyer & Company Inc increased its holdings in NIKE by 1.7% during the 1st quarter. Sawyer & Company Inc now owns 44,833 shares of the footwear maker’s stock worth $2,846,000 after purchasing an additional 744 shares during the period. Finally, World Equity Group Inc. purchased a new stake in NIKE during the 1st quarter worth about $249,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.4%

NIKE stock opened at $59.78 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The stock has a 50 day moving average of $59.78 and a two-hundred day moving average of $68.02. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $88.41 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 2.11 and a beta of 1.21.

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

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.68%. NIKE’s dividend payout ratio is currently 53.16%.

Analysts Set New Price Targets

A number of research firms have recently commented on NKE. Morgan Stanley dropped their price objective on NIKE from $70.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 17th. Royal Bank Of Canada dropped their price objective on NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 20th. 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. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Stifel Nicolaus dropped their price objective on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Sixteen 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. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $78.74.

Insider Activity

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 acquired 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 of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Profile

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.