NIKE, Inc. (NYSE:NKE) Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,402 shares of the footwear maker’s stock after selling 776 shares during the period. NIKE makes up about 0.8% of Citizens & Northern Corp’s investment portfolio, making the stock its 29th largest position. Citizens & Northern Corp’s holdings in NIKE were worth $2,215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Cassady Schiller Wealth Management LLC lifted its stake in NIKE by 153.3% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 732 shares of the footwear maker’s stock valued at $79,000 after purchasing an additional 443 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of NIKE by 6.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock valued at $13,767,000 after acquiring an additional 7,769 shares during the last quarter. WBI Investments LLC bought a new stake in shares of NIKE during the 4th quarter worth $1,084,000. Banco de Sabadell S.A grew its holdings in shares of NIKE by 4.5% in the 4th quarter. Banco de Sabadell S.A now owns 16,822 shares of the footwear maker’s stock worth $1,824,000 after acquiring an additional 720 shares during the last quarter. Finally, Enterprise Financial Services Corp raised its position in shares of NIKE by 1.5% during the fourth quarter. Enterprise Financial Services Corp now owns 8,772 shares of the footwear maker’s stock worth $952,000 after purchasing an additional 133 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NKE. StockNews.com upgraded NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Telsey Advisory Group reduced their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Stifel Nicolaus cut their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and issued a $111.00 target price on shares of NIKE in a research report on Tuesday, March 19th. Finally, Evercore ISI dropped their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Performance

Shares of NIKE stock traded down $1.27 during midday trading on Thursday, hitting $91.23. The company had a trading volume of 5,794,256 shares, compared to its average volume of 9,216,910. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $123.39. The business’s 50 day simple moving average is $93.49 and its two-hundred day simple moving average is $102.11. The stock has a market cap of $137.70 billion, a PE ratio of 27.08, a P/E/G ratio of 1.79 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. As a group, equities analysts predict that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is presently 43.53%.

Insider Activity

In other news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,660 shares of company stock worth $19,946,333. Company insiders own 0.50% of the company’s stock.

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.