NIKE, Inc. (NYSE:NKE) Shares Sold by Norway Savings Bank

Norway Savings Bank lowered its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 64.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,765 shares of the footwear maker's stock after selling 6,899 shares during the quarter. Norway Savings Bank's holdings in NIKE were worth $239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA increased its stake in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after acquiring an additional 210 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in NIKE during the fourth quarter valued at approximately $30,000. EnRich Financial Partners LLC lifted its stake in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 273 shares during the last quarter. Finally, BankPlus Trust Department bought a new stake in shares of NIKE in the 4th quarter valued at approximately $34,000. Institutional investors own 64.25% of the company's stock.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction on Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

NIKE Stock Up 0.4%

NIKE stock traded up $0.27 during trading hours on Friday, reaching $59.78. The stock had a trading volume of 19,005,737 shares, compared to its average volume of 15,291,197. The company has a market cap of $88.41 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 2.11 and a beta of 1.21. The business's 50 day moving average price is $59.78 and its 200-day moving average price is $68.02. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company's quarterly revenue was down 9.1% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. NIKE's payout ratio is 53.16%.

Analyst Ratings Changes

Several research firms recently weighed in on NKE. Royal Bank Of Canada decreased their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Williams Trading reduced their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Citigroup dropped their price target on shares of NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Robert W. Baird reduced their price objective on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, Piper Sandler dropped their target price on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $78.74.

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.