Texas Bank & Trust Co Invests $935,000 in NIKE, Inc. (NYSE:NKE)

Texas Bank & Trust Co purchased a new position in NIKE, Inc. (NYSE:NKE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,357 shares of the footwear maker's stock, valued at approximately $935,000.

Several other institutional investors and hedge funds also recently modified their holdings of NKE. JNBA Financial Advisors boosted its holdings in shares of NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock valued at $760,000 after acquiring an additional 131 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock valued at $1,547,000 after acquiring an additional 136 shares in the last quarter. Elgethun Capital Management boosted its holdings in shares of NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after acquiring an additional 149 shares in the last quarter. Game Plan Financial Advisors LLC boosted its holdings in shares of NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock valued at $114,000 after acquiring an additional 150 shares in the last quarter. Finally, AlTi Global Inc. boosted its holdings in shares of NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup cut their price objective on NIKE from $72.00 to $57.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Dbs Bank raised NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Needham & Company LLC lowered their target price on NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Royal Bank of Canada lowered their target price on NIKE from $67.00 to $66.00 and set a "sector perform" rating for the company in a research report on Friday, March 21st. Finally, Morgan Stanley lowered their target price on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $80.30.

NIKE Stock Up 1.2%

Shares of NYSE:NKE opened at $63.13 on Friday. The business's 50 day simple moving average is $61.07 and its two-hundred day simple moving average is $70.70. The firm has a market cap of $93.38 billion, a P/E ratio of 19.48, a PEG ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. NIKE's dividend payout ratio (DPR) is currently 53.16%.

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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