M&T Bank Corp Sells 14,425 Shares of NIKE, Inc. (NYSE:NKE)

M&T Bank Corp reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 281,629 shares of the footwear maker's stock after selling 14,425 shares during the quarter. M&T Bank Corp's holdings in NIKE were worth $17,878,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Spire Wealth Management increased its holdings in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after buying an additional 416 shares during the period. Renaissance Technologies LLC increased its holdings in NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after buying an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC increased its holdings in NIKE by 40.9% in the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after buying an additional 90,000 shares during the period. Janus Henderson Group PLC increased its holdings in NIKE by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after buying an additional 463,470 shares during the period. Finally, Markel Group Inc. increased its holdings in NIKE by 0.8% in the 4th quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock valued at $32,720,000 after buying an additional 3,500 shares during the period. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on NKE shares. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, June 27th. Bank of America raised their price target on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Argus upgraded shares of NIKE to a "buy" rating in a research note on Sunday. UBS Group began coverage on shares of NIKE in a research note on Sunday. They issued a "buy" rating on the stock. Finally, Robert W. Baird raised their price target on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus target price of $77.19.

NIKE Stock Down 3.4%

Shares of NYSE NKE opened at $73.96 on Wednesday. The company has a market capitalization of $109.40 billion, a P/E ratio of 34.24, a price-to-earnings-growth ratio of 2.77 and a beta of 1.25. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The company's 50 day moving average price is $63.08 and its 200-day moving average price is $67.40.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the company earned $0.99 EPS. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. NIKE's dividend payout ratio (DPR) is currently 74.07%.

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.

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