Cullen Frost Bankers Inc. Buys 28,385 Shares of NIKE, Inc. (NYSE:NKE)

Cullen Frost Bankers Inc. grew its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 24.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,536 shares of the footwear maker's stock after purchasing an additional 28,385 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in NIKE were worth $9,302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after acquiring an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after acquiring an additional 17,888 shares during the period. Proficio Capital Partners LLC boosted its position in shares of NIKE by 6.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,634 shares of the footwear maker's stock valued at $1,637,000 after acquiring an additional 1,299 shares during the period. Axxcess Wealth Management LLC boosted its position in shares of NIKE by 61.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 10,238 shares of the footwear maker's stock valued at $775,000 after acquiring an additional 3,883 shares during the period. Finally, PDS Planning Inc boosted its position in shares of NIKE by 11.5% in the fourth quarter. PDS Planning Inc now owns 3,794 shares of the footwear maker's stock valued at $287,000 after acquiring an additional 390 shares during the period. Institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the sale, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Down 0.7%

Shares of NYSE NKE traded down $0.48 during mid-day trading on Friday, hitting $72.50. The stock had a trading volume of 8,792,733 shares, compared to its average volume of 15,094,741. 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 1 year low of $52.28 and a 1 year high of $90.62. The business has a 50 day moving average price of $65.21 and a two-hundred day moving average price of $67.29. The firm has a market cap of $107.24 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

Analyst Ratings Changes

Several equities research analysts have issued reports on NKE shares. The Goldman Sachs Group lifted their target price on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, June 27th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, June 27th. Piper Sandler lifted their target price on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Wells Fargo & Company lifted their target price on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Bank of America lifted their target price on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $77.15.

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.