Country Club Bank Sells 37,522 Shares of NIKE, Inc. (NYSE:NKE)

Country Club Bank lowered its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 51.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,558 shares of the footwear maker's stock after selling 37,522 shares during the quarter. Country Club Bank's holdings in NIKE were worth $2,250,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC lifted its stake in NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after acquiring an additional 347,178 shares in the last quarter. Capital World Investors lifted its stake in NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after acquiring an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after acquiring an additional 620,214 shares in the last quarter. Finally, Norges Bank bought a new position in NIKE during the 4th quarter valued at $1,126,288,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NYSE NKE traded down $1.96 during trading on Friday, hitting $72.66. The company had a trading volume of 12,749,362 shares, compared to its average volume of 15,235,433. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The stock has a 50 day simple moving average of $64.06 and a 200 day simple moving average of $67.33. The firm has a market capitalization of $107.47 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. As a group, analysts anticipate 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 was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's payout ratio is 74.07%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NKE shares. Morgan Stanley raised their price objective on NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Argus upgraded NIKE to a "buy" rating in a research note on Sunday, July 6th. Cfra Research upgraded NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Needham & Company LLC lifted their target price on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Truist Financial cut their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $77.15.

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.