NIKE, Inc. (NYSE:NKE) Stake Lifted by Bangor Savings Bank

Bangor Savings Bank raised its stake in NIKE, Inc. (NYSE:NKE) by 591.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,138 shares of the footwear maker’s stock after buying an additional 9,528 shares during the quarter. Bangor Savings Bank’s holdings in NIKE were worth $707,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NKE. Brighton Jones LLC raised its holdings in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the last quarter. Silver Oak Securities Incorporated increased its position in NIKE by 15.9% in the 4th quarter. Silver Oak Securities Incorporated now owns 3,329 shares of the footwear maker’s stock valued at $248,000 after acquiring an additional 456 shares during the period. GHP Investment Advisors Inc. increased its position in NIKE by 14.0% in the 4th quarter. GHP Investment Advisors Inc. now owns 2,461 shares of the footwear maker’s stock valued at $186,000 after acquiring an additional 302 shares during the period. Strategic Financial Concepts LLC bought a new stake in NIKE during the 4th quarter valued at $4,342,000. Finally, Golden State Wealth Management LLC acquired a new position in NIKE during the 4th quarter worth $196,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 0.2%

NYSE NKE opened at $62.82 on Friday. The firm’s 50 day moving average price is $58.86 and its two-hundred day moving average price is $69.19. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The stock has a market cap of $92.92 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is 53.16%.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NKE shares. Wells Fargo & Company raised their price target on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Royal Bank of Canada decreased their target price on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 20th. Berenberg Bank started coverage on shares of NIKE in a research note on Tuesday, April 15th. They set a “hold” rating and a $58.00 target price on the stock. Bank of America dropped their price target on shares of NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, Robert W. Baird decreased their price objective on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $80.26.

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.