City Holding Co. Has $672,000 Stock Holdings in NIKE, Inc. $NKE

Key Points

• City Holding Co. reduced its stake in NIKE, Inc. by 54.7% in the second quarter, leaving them with 9,455 shares valued at $672,000.
• Several large institutional investors have increased their holdings in NIKE, with 64.25% of the stock currently owned by institutional investors.
• Analysts have varied views on NIKE, with multiple firms upgrading their ratings and increasing price targets, resulting in a consensus rating of "Moderate Buy" with an average target price of $79.62.

City Holding Co. cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 54.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,455 shares of the footwear maker's stock after selling 11,423 shares during the period. City Holding Co.'s holdings in NIKE were worth $672,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NKE. Spire Wealth Management boosted its holdings in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after acquiring an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in NIKE by 0.6% during the first 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 acquiring an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new stake in NIKE during the first quarter valued at about $25,963,000. BROOKFIELD Corp ON boosted its holdings in NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock valued at $41,808,000 after acquiring an additional 175,000 shares during the period. Finally, Olstein Capital Management L.P. boosted its holdings in NIKE by 42.2% during the first 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 during the period. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler upped their price target on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Sanford C. Bernstein reiterated an "outperform" rating on shares of NIKE in a research note on Monday, August 18th. Citigroup upgraded shares of NIKE from a "neutral" rating to a "positive" rating in a research note on Friday, September 19th. 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, September 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $79.62.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company's stock.

NIKE Price Performance

Shares of NYSE NKE opened at $69.31 on Monday. The firm has a market cap of $102.36 billion, a PE ratio of 32.09, a PEG ratio of 2.53 and a beta of 1.24. The company has a fifty day moving average price of $74.99 and a 200 day moving average price of $67.26. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.26. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is presently 74.07%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.