First Interstate Bank Trims Stock Holdings in NIKE, Inc. (NYSE:NKE)

First Interstate Bank cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 32.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,411 shares of the footwear maker's stock after selling 3,607 shares during the quarter. First Interstate Bank's holdings in NIKE were worth $470,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC purchased a new position in shares of NIKE in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA increased its position in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of NIKE during the 4th quarter worth about $30,000. EnRich Financial Partners LLC raised its holdings in NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after buying an additional 273 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of NIKE by 95.1% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after purchasing an additional 250 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 1.9%

Shares of NIKE stock traded up $1.39 during trading on Thursday, hitting $74.95. The company's stock had a trading volume of 7,913,013 shares, compared to its average volume of 15,248,286. The stock has a market cap of $110.85 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. The stock has a 50-day moving average price of $63.42 and a two-hundred day moving average price of $67.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's payout ratio is 74.07%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NKE shares. China Renaissance initiated coverage on shares of NIKE in a report on Wednesday, March 19th. They set a "hold" rating for the company. JPMorgan Chase & Co. upped their price target on shares of NIKE from $56.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Berenberg Bank assumed coverage on shares of NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective for the company. Barclays upped their target price on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Finally, Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

NIKE Company 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.