First Citizens Bank & Trust Co. Has $6.37 Million Position in NIKE, Inc. $NKE

Key Points

• First Citizens Bank & Trust Co. increased its holdings in NIKE, Inc. by 12.1%, now owning 89,645 shares valued at approximately $6.37 million.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have significantly grown their positions in NIKE, with Goldman Sachs increasing its stake by 344.2% during the first quarter.
• NIKE reported earnings of $0.49 per share for the quarter, surpassing estimates of $0.27, and had quarterly revenues of $11.72 billion, up 1% from the previous year.

First Citizens Bank & Trust Co. lifted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 12.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,645 shares of the footwear maker's stock after purchasing an additional 9,646 shares during the period. First Citizens Bank & Trust Co.'s holdings in NIKE were worth $6,368,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. Wellington Management Group LLP increased its position in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the period. Bank of New York Mellon Corp grew its stake in NIKE by 3.0% in the first 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 during the period. Finally, Flossbach Von Storch SE increased its stake in NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after purchasing an additional 1,988,547 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NIKE stock opened at $69.17 on Thursday. The firm's 50 day simple moving average is $72.67 and its 200 day simple moving average is $67.57. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The firm has a market capitalization of $102.25 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the company earned $0.70 EPS. The company's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's dividend payout ratio is currently 82.05%.

Analyst Upgrades and Downgrades

NKE has been the topic of several research analyst reports. KeyCorp set a $90.00 price objective on NIKE and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Friday, June 27th. Weiss Ratings upgraded shares of NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. Citigroup raised shares of NIKE from a "neutral" rating to a "positive" rating in a report on Friday, September 19th. Finally, DZ Bank raised NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $82.21.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman directly owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company's stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company's stock.

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.

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