Busey Bank Decreases Stake in NIKE, Inc. $NKE

Key Points

• Busey Bank has significantly reduced its holdings in NIKE, Inc. by 90% in the second quarter, selling 196,932 shares and now owning only 21,885 shares valued at approximately $1,555,000.
• NIKE's stock price recently decreased by 1.7%, currently trading at $70.88, with a market capitalization of $104.68 billion and a twelve-month price range between $52.28 and $90.62.
• The company announced a quarterly dividend of $0.40 per share, which represents an annualized yield of 2.3%, with the record date set for September 2nd.

Busey Bank lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 90.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,885 shares of the footwear maker's stock after selling 196,932 shares during the quarter. Busey Bank's holdings in NIKE were worth $1,555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Heck Capital Advisors LLC purchased a new position in NIKE in the 4th quarter worth $28,000. Stone House Investment Management LLC bought a new stake in NIKE during the first quarter worth about $25,000. Saudi Central Bank bought a new stake in NIKE during the first quarter worth about $30,000. Putney Financial Group LLC bought a new position in shares of NIKE in the fourth quarter worth approximately $40,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of NIKE in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

NIKE Price Performance

NYSE NKE traded down $1.22 on Friday, hitting $70.88. The company had a trading volume of 33,397,876 shares, compared to its average volume of 11,800,166. The company has a market capitalization of $104.68 billion, a PE ratio of 32.81, a PEG ratio of 2.57 and a beta of 1.24. The company's fifty day moving average price is $75.19 and its 200-day moving average price is $67.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research reports. Truist Financial reduced their target price on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating in a research report on Wednesday, September 10th. Needham & Company LLC increased their target price on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Barclays increased their target price on shares of NIKE from $64.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and an average target price of $79.04.

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.