NBT Bank N A NY Trims Stock Position in NIKE, Inc. (NYSE:NKE)

NBT Bank N A NY trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,104 shares of the footwear maker’s stock after selling 3,130 shares during the quarter. NBT Bank N A NY’s holdings in NIKE were worth $2,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of NKE. Saybrook Capital NC lifted its stake in shares of NIKE by 4.4% in the 4th quarter. Saybrook Capital NC now owns 178,022 shares of the footwear maker’s stock worth $13,471,000 after acquiring an additional 7,446 shares during the period. Sowell Financial Services LLC grew its holdings in NIKE by 106.9% during the fourth quarter. Sowell Financial Services LLC now owns 35,316 shares of the footwear maker’s stock worth $2,672,000 after acquiring an additional 18,250 shares during the period. Roberts Glore & Co. Inc. IL purchased a new position in NIKE in the fourth quarter worth $324,000. Schaper Benz & Wise Investment Counsel Inc. WI lifted its holdings in NIKE by 2.4% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 118,282 shares of the footwear maker’s stock valued at $8,950,000 after acquiring an additional 2,740 shares during the period. Finally, Personal CFO Solutions LLC boosted its position in shares of NIKE by 78.5% during the 4th quarter. Personal CFO Solutions LLC now owns 18,220 shares of the footwear maker’s stock worth $1,379,000 after purchasing an additional 8,014 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of research analyst reports. Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Guggenheim reaffirmed a “buy” rating and issued a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, BMO Capital Markets boosted their target price on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $89.77.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

NIKE Stock Up 1.3 %

Shares of NYSE NKE opened at $78.68 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $116.38 billion, a PE ratio of 24.28, a P/E/G ratio of 2.52 and a beta of 1.02. The firm has a fifty day moving average of $74.76 and a 200-day moving average of $78.14. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $102.49.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.