Community Bank & Trust Waco Texas Lowers Holdings in NIKE, Inc. $NKE

Community Bank & Trust Waco Texas decreased its position in NIKE, Inc. (NYSE:NKE) by 0.9% in the second quarter, Holdings Channel reports. The firm owned 17,064 shares of the footwear maker’s stock after selling 155 shares during the period. Community Bank & Trust Waco Texas’ holdings in NIKE were worth $1,212,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE in the first quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Matrix Trust Co boosted its holdings in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. Saudi Central Bank purchased a new stake in shares of NIKE in the first quarter valued at approximately $30,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of NIKE in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $69.72 on Wednesday. The business’s fifty day simple moving average is $74.78 and its 200-day simple moving average is $67.27. The company has a market cap of $102.97 billion, a PE ratio of 32.28, a PEG ratio of 2.54 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $89.64.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 74.07%.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Robert W. Baird boosted their price objective on shares of NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. Evercore ISI reduced their price objective on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. Finally, Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.62.

NIKE Company 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.