Citizens & Northern Corp lifted its holdings in shares of Nike Inc (NYSE:NKE) by 2.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,307 shares of the footwear maker’s stock after acquiring an additional 1,136 shares during the quarter. Nike accounts for about 2.8% of Citizens & Northern Corp’s holdings, making the stock its 6th largest position. Citizens & Northern Corp’s holdings in Nike were worth $3,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC grew its holdings in Nike by 26.5% during the second quarter. Jennison Associates LLC now owns 14,740,623 shares of the footwear maker’s stock valued at $1,174,533,000 after purchasing an additional 3,087,189 shares during the period. BlackRock Inc. grew its holdings in Nike by 3.3% during the first quarter. BlackRock Inc. now owns 81,870,764 shares of the footwear maker’s stock valued at $5,439,495,000 after purchasing an additional 2,649,041 shares during the period. Rockefeller Capital Management L.P. bought a new position in Nike during the first quarter valued at $79,372,000. Bessemer Group Inc. grew its holdings in Nike by 32.5% during the second quarter. Bessemer Group Inc. now owns 3,830,654 shares of the footwear maker’s stock valued at $305,227,000 after purchasing an additional 940,411 shares during the period. Finally, Unigestion Holding SA bought a new position in Nike during the second quarter valued at $54,521,000. 63.51% of the stock is owned by institutional investors.

Several equities analysts have weighed in on NKE shares. TheStreet raised Nike from a “c+” rating to a “b+” rating in a report on Thursday, June 28th. Stifel Nicolaus increased their price objective on Nike from $80.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, June 20th. Barclays set a $80.00 price objective on Nike and gave the company a “buy” rating in a report on Tuesday, June 19th. Zacks Investment Research raised Nike from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, June 19th. Finally, DA Davidson reissued a “buy” rating on shares of Nike in a report on Monday, May 7th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $77.46.

In related news, insider Eric D. Sprunk sold 150,000 shares of Nike stock in a transaction on Friday, June 29th. The stock was sold at an average price of $79.07, for a total transaction of $11,860,500.00. Following the completion of the sale, the insider now owns 241,959 shares of the company’s stock, valued at $19,131,698.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric D. Sprunk sold 50,000 shares of Nike stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $70.00, for a total value of $3,500,000.00. Following the sale, the insider now directly owns 191,959 shares of the company’s stock, valued at approximately $13,437,130. The disclosure for this sale can be found here. Insiders have sold 607,778 shares of company stock valued at $46,116,326 in the last three months. 3.90% of the stock is owned by corporate insiders.

NYSE:NKE opened at $81.26 on Friday. The firm has a market cap of $127.26 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. Nike Inc has a 52-week low of $50.35 and a 52-week high of $81.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.51 and a quick ratio of 1.63.

Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 28th. The footwear maker reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The company had revenue of $9.79 billion during the quarter, compared to analyst estimates of $9.40 billion. Nike had a return on equity of 36.57% and a net margin of 5.31%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. equities research analysts anticipate that Nike Inc will post 2.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Tuesday, September 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.98%. Nike’s dividend payout ratio is 33.06%.

Nike announced that its board has initiated a stock buyback plan on Thursday, June 28th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the footwear maker to buy up to 12.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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