Crossvault Capital Management LLC Lowers Stake in NIKE, Inc. (NYSE:NKE)
Crossvault Capital Management LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,762 shares of the footwear maker’s stock after selling 2,988 shares during the quarter. NIKE accounts for 3.0% of Crossvault Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. Crossvault Capital Management LLC’s holdings in NIKE were worth $8,340,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of NKE. SNS Financial Group LLC grew its holdings in shares of NIKE by 2.8% during the 4th quarter. SNS Financial Group LLC now owns 2,554 shares of the footwear maker’s stock valued at $361,000 after purchasing an additional 70 shares during the last quarter. Carlson Capital Management lifted its position in NIKE by 2.2% during the 4th quarter. Carlson Capital Management now owns 3,414 shares of the footwear maker’s stock valued at $500,000 after acquiring an additional 72 shares during the period. MidWestOne Financial Group Inc. lifted its position in NIKE by 1.2% during the 4th quarter. MidWestOne Financial Group Inc. now owns 6,303 shares of the footwear maker’s stock valued at $892,000 after acquiring an additional 76 shares during the period. Appleton Partners Inc. MA lifted its position in NIKE by 2.2% during the 1st quarter. Appleton Partners Inc. MA now owns 3,592 shares of the footwear maker’s stock valued at $477,000 after acquiring an additional 77 shares during the period. Finally, Smith Shellnut Wilson LLC ADV lifted its position in NIKE by 0.9% during the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 8,542 shares of the footwear maker’s stock valued at $1,208,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 64.20% of the company’s stock.
NIKE stock traded down $1.54 during trading hours on Tuesday, hitting $131.49. The stock had a trading volume of 112,605 shares, compared to its average volume of 6,459,695. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.66 and a quick ratio of 1.97. The stock has a market capitalization of $207.75 billion, a price-to-earnings ratio of 76.02, a PEG ratio of 2.51 and a beta of 0.83. NIKE, Inc. has a 1-year low of $84.11 and a 1-year high of $147.95. The stock’s fifty day moving average is $134.38 and its two-hundred day moving average is $135.89.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 1st were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, February 26th. NIKE’s payout ratio is currently 59.46%.
In other NIKE news, Director Peter B. Henry sold 3,388 shares of the firm’s stock in a transaction dated Tuesday, April 20th. The stock was sold at an average price of $127.03, for a total value of $430,377.64. Following the sale, the director now directly owns 2,282 shares of the company’s stock, valued at approximately $289,882.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 114,094 shares of the firm’s stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $130.67, for a total value of $14,908,662.98. Following the completion of the sale, the chairman now directly owns 1,537,729 shares in the company, valued at $200,935,048.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,482 shares of company stock worth $17,342,141. Corporate insiders own 3.80% of the company’s stock.
A number of equities research analysts recently issued reports on NKE shares. Cowen upped their price target on shares of NIKE from $170.00 to $173.00 and gave the company an “outperform” rating in a research note on Tuesday, March 23rd. The Goldman Sachs Group set a $164.00 price target on shares of NIKE and gave the company a “buy” rating in a report on Monday, January 4th. Barclays reissued a “buy” rating and set a $174.00 price target on shares of NIKE in a research report on Friday, March 19th. HSBC lifted their price target on shares of NIKE from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, March 31st. Finally, Williams Financial Group initiated coverage on shares of NIKE in a research note on Friday, January 22nd. They issued a “buy” rating and a $175.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $159.83.
NIKE Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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