NIKE, Inc. $NKE Shares Sold by Community Trust & Investment Co.

Key Points

• Community Trust & Investment Co. cut its NIKE stake by 27.1% in Q4, selling 40,718 shares and ending the quarter with 109,608 shares worth about $6.98 million.
• CEO Elliott Hill purchased 16,388 NIKE shares on Dec. 29 at roughly $61.10, raising his holdings to 241,587 shares (a 7.28% increase), indicating insider buying.
• NIKE declared a quarterly dividend of $0.41 per share (annualized $1.64, ~3.1% yield), with an ex-dividend/record date of March 2 and a payment date of April 1.

Community Trust & Investment Co. lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 27.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,608 shares of the footwear maker's stock after selling 40,718 shares during the quarter. Community Trust & Investment Co.'s holdings in NIKE were worth $6,983,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Vanguard Group Inc. raised its stake in NIKE by 1.3% during the third quarter. Vanguard Group Inc. now owns 115,291,199 shares of the footwear maker's stock worth $8,039,255,000 after purchasing an additional 1,467,414 shares during the period. State Street Corp grew its stake in shares of NIKE by 2.8% in the 2nd quarter. State Street Corp now owns 59,154,159 shares of the footwear maker's stock valued at $4,225,441,000 after buying an additional 1,590,603 shares during the period. Capital World Investors grew its stake in shares of NIKE by 0.7% in the 3rd quarter. Capital World Investors now owns 42,239,013 shares of the footwear maker's stock valued at $2,945,326,000 after buying an additional 286,615 shares during the period. Invesco Ltd. increased its holdings in shares of NIKE by 3.3% during the 3rd quarter. Invesco Ltd. now owns 12,561,334 shares of the footwear maker's stock worth $875,902,000 after buying an additional 404,136 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of NIKE by 42.3% during the 3rd quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker's stock worth $825,501,000 after buying an additional 3,518,666 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE:NKE opened at $52.69 on Tuesday. NIKE, Inc. has a fifty-two week low of $52.17 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06. The company has a 50 day moving average price of $61.18 and a 200 day moving average price of $64.57. The stock has a market capitalization of $78.01 billion, a P/E ratio of 31.00, a PEG ratio of 2.68 and a beta of 1.27.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, March 2nd. NIKE's dividend payout ratio (DPR) is currently 96.47%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NKE. Telsey Advisory Group decreased their price objective on NIKE from $75.00 to $72.00 and set a "market perform" rating on the stock in a report on Friday, December 19th. Bank of America cut their target price on NIKE from $84.00 to $73.00 and set a "buy" rating for the company in a research note on Friday, December 19th. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $67.00 to $54.00 and set a "hold" rating on the stock in a research report on Monday. Weiss Ratings raised NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, January 12th. Finally, Argus lowered their price target on NIKE from $85.00 to $70.00 in a report on Tuesday, December 23rd. Twenty-two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average price target of $73.43.

Insider Buying and Selling at NIKE

In other news, CEO Elliott Hill acquired 16,388 shares of the business's stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the acquisition, the chief executive officer owned 241,587 shares of the company's stock, valued at $14,760,965.70. This represents a 7.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.80% of the company's stock.

NIKE Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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