US Bancorp DE Lowers Stock Position in NIKE, Inc. $NKE

Key Points

• US Bancorp DE reduced its stake in NIKE, Inc. by 5.8% during the second quarter, selling a total of 50,540 shares, resulting in ownership of approximately 0.06% of the company valued at $58.7 million.
• Several institutions, including Stone House Investment Management and Mascoma Wealth Management, have recently increased their holdings in NIKE, further indicating confidence in the stock.
• Analysts have positively reacted to NIKE's stock, with ratings showing three Strong Buy ratings, twenty-four Buy ratings, and a target price average of $81.57 for the shares.

US Bancorp DE lessened its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 5.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 826,937 shares of the footwear maker's stock after selling 50,540 shares during the period. US Bancorp DE owned about 0.06% of NIKE worth $58,746,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE in the 1st quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE in the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC lifted its position in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank purchased a new stake in shares of NIKE in the 1st quarter worth approximately $30,000. Finally, Matrix Trust Co lifted its position in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NKE. Royal Bank Of Canada raised shares of NIKE from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $76.00 to $90.00 in a research report on Thursday, September 18th. Sanford C. Bernstein reissued a "buy" rating and set a $90.00 target price on shares of NIKE in a research report on Wednesday, October 1st. TD Cowen raised shares of NIKE from a "hold" rating to a "buy" rating and increased their target price for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Finally, Needham & Company LLC reissued a "buy" rating and set a $78.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.57.

Insiders Place Their Bets

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,378 shares of company stock worth $14,794,264 in the last quarter. Company insiders own 0.80% of the company's stock.

NIKE Trading Down 1.4%

NYSE NKE opened at $68.09 on Friday. The company has a fifty day simple moving average of $73.99 and a two-hundred day simple moving average of $67.29. The stock has a market cap of $100.56 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.52 and a beta of 1.29. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.70 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. NIKE's dividend payout ratio is presently 82.05%.

NIKE Company 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.

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