Community Trust & Investment Co. Increases Position in NIKE, Inc. (NYSE:NKE)

Community Trust & Investment Co. boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 18.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,015 shares of the footwear maker's stock after buying an additional 23,188 shares during the quarter. Community Trust & Investment Co.'s holdings in NIKE were worth $9,333,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. JNBA Financial Advisors lifted its stake in NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock worth $760,000 after acquiring an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock worth $1,547,000 after buying an additional 136 shares during the period. Elgethun Capital Management grew its position in NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after purchasing an additional 149 shares during the last quarter. Game Plan Financial Advisors LLC raised its stake in NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock valued at $114,000 after acquiring an additional 150 shares during the last quarter. Finally, 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 purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NIKE stock traded up $1.37 on Monday, reaching $61.90. 13,661,683 shares of the stock were exchanged, compared to its average volume of 15,194,381. The business has a 50 day moving average price of $59.38 and a two-hundred day moving average price of $68.60. The firm has a market capitalization of $91.55 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 2.52 and a beta of 1.21. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the firm posted $0.98 earnings per share. The company's revenue was down 9.1% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.58%. NIKE's dividend payout ratio is presently 53.16%.

Analyst Ratings Changes

A number of brokerages recently commented on NKE. Berenberg Bank started coverage on shares of NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective on the stock. Piper Sandler lowered their target price on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Friday, April 11th. UBS Group decreased their target price on NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on NIKE from $64.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Finally, Stifel Nicolaus decreased their price objective on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $80.26.

Insider Activity

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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.