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

First Interstate Bank cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 32.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,411 shares of the footwear maker's stock after selling 3,607 shares during the period. First Interstate Bank's holdings in NIKE were worth $470,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Topsail Wealth Management LLC increased its holdings in shares of NIKE by 161.9% in the 1st quarter. Topsail Wealth Management LLC now owns 9,567 shares of the footwear maker's stock worth $611,000 after buying an additional 5,914 shares during the last quarter. Greenleaf Trust grew its holdings in NIKE by 11.6% during the 1st quarter. Greenleaf Trust now owns 129,508 shares of the footwear maker's stock valued at $8,221,000 after purchasing an additional 13,486 shares during the last quarter. Flossbach Von Storch SE grew its holdings 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 during the last quarter. CORDA Investment Management LLC. grew its holdings in NIKE by 14.2% during the 1st quarter. CORDA Investment Management LLC. now owns 156,202 shares of the footwear maker's stock valued at $9,916,000 after purchasing an additional 19,434 shares during the last quarter. Finally, Trek Financial LLC grew its holdings in NIKE by 20.8% during the 1st quarter. Trek Financial LLC now owns 14,831 shares of the footwear maker's stock valued at $941,000 after purchasing an additional 2,557 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price 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 15,232,909. The stock has a fifty day simple moving average of $63.78 and a two-hundred day simple moving average of $67.43. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The firm has a market capitalization of $107.47 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.66 and a beta of 1.25. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

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

NIKE Dividend Announcement

The firm also recently declared 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 was Monday, June 2nd. NIKE's dividend payout ratio is currently 74.07%.

Analyst Ratings Changes

A number of brokerages have commented on NKE. Barclays upped their target price on shares of NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Telsey Advisory Group reissued a "market perform" rating and issued a $70.00 price objective on shares of NIKE in a research report on Friday, June 27th. Cfra Research raised NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Citigroup raised their price target on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Finally, Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.