UMB Bank n.a. Trims Stake in NIKE, Inc. (NYSE:NKE)

UMB Bank n.a. reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,892 shares of the footwear maker’s stock after selling 2,265 shares during the period. UMB Bank n.a.’s holdings in NIKE were worth $3,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bell Investment Advisors Inc boosted its position in shares of NIKE by 4.7% in the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after purchasing an additional 118 shares during the period. Bradley Foster & Sargent Inc. CT boosted its position in shares of NIKE by 16.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 348,146 shares of the footwear maker’s stock worth $37,798,000 after purchasing an additional 48,875 shares during the period. Grace & Mercy Foundation Inc. bought a new position in shares of NIKE in the fourth quarter worth approximately $977,000. Groupama Asset Managment bought a new position in shares of NIKE in the fourth quarter worth approximately $20,765,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 0.4 %

Shares of NKE opened at $82.13 on Friday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a market cap of $123.14 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $81.33 and its 200-day simple moving average is $85.79.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 42.41%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $97.00 in a research report on Thursday. Bank of America dropped their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Stifel Nicolaus dropped their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Finally, KeyCorp restated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE 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.