Ledyard National Bank Sells 817 Shares of NIKE, Inc. (NYSE:NKE)

Ledyard National Bank lessened its holdings in NIKE, Inc. (NYSE:NKE) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,492 shares of the footwear maker’s stock after selling 817 shares during the quarter. Ledyard National Bank’s holdings in NIKE were worth $856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Elgethun Capital Management lifted its holdings in shares of NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock worth $94,000 after buying an additional 149 shares in the last quarter. AlTi Global Inc. lifted its holdings in shares of NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock worth $2,813,000 after buying an additional 150 shares in the last quarter. Staley Capital Advisers Inc. lifted its holdings in shares of NIKE by 4.4% during the fourth quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker’s stock worth $286,000 after buying an additional 160 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of NIKE by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker’s stock worth $240,000 after buying an additional 160 shares in the last quarter. Finally, Nwam LLC lifted its holdings in shares of NIKE by 2.9% during the fourth quarter. Nwam LLC now owns 6,318 shares of the footwear maker’s stock worth $478,000 after buying an additional 176 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cfra Research raised NIKE to a “moderate buy” rating in a report on Friday, March 21st. Bank of America dropped their target price on NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, April 25th. The Goldman Sachs Group dropped their target price on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. BMO Capital Markets dropped their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, Piper Sandler dropped their price target on NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Sixteen 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 data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $78.74.

NIKE Stock Performance

NYSE:NKE opened at $60.81 on Tuesday. The stock has a market cap of $89.95 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 2.11 and a beta of 1.21. 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’s 50-day moving average is $59.89 and its 200-day moving average is $67.82. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04.

NIKE Announces Dividend

The company 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.