Stock Yards Bank & Trust Co. Has $2.32 Million Stock Position in NIKE, Inc. $NKE

Stock Yards Bank & Trust Co. lowered its holdings in NIKE, Inc. (NYSE:NKE) by 7.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,599 shares of the footwear maker’s stock after selling 2,634 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in NIKE were worth $2,316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management grew its holdings in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in NIKE in the 1st quarter valued at approximately $25,963,000. BROOKFIELD Corp ON grew its holdings in NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after buying an additional 175,000 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its holdings in NIKE by 42.2% in the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock valued at $5,777,000 after acquiring an additional 27,000 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 3.4%

Shares of NKE opened at $72.01 on Friday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $84.76. The company has a current ratio of 2.19, a quick ratio of 1.50 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $74.62 and a 200-day simple moving average of $67.31. The stock has a market cap of $106.34 billion, a PE ratio of 36.93, a PEG ratio of 2.75 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the prior year, the firm posted $0.70 EPS. NIKE’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Robert W. Baird upped their price target on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Hsbc Global Res raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $75.00 price target on shares of NIKE in a report on Wednesday. Finally, Bank of America upped their price target on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.57.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is owned by corporate insiders.

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.