BankPlus Trust Department Grows Stock Position in NIKE, Inc. $NKE

BankPlus Trust Department lifted its stake in NIKE, Inc. (NYSE:NKE) by 699.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,021 shares of the footwear maker’s stock after buying an additional 3,518 shares during the period. BankPlus Trust Department’s holdings in NIKE were worth $286,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Mascoma Wealth Management LLC bought a new stake in shares of NIKE in the second quarter worth about $26,000. Stone House Investment Management LLC bought a new stake in shares of NIKE in the first quarter worth about $25,000. Halbert Hargrove Global Advisors LLC grew its stake 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 worth $28,000 after purchasing an additional 362 shares during the last quarter. Matrix Trust Co grew its stake in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares during the last quarter. Finally, Saudi Central Bank bought a new stake in shares of NIKE in the first quarter worth about $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,378 shares of company stock valued at $14,794,264. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent analyst reports. UBS Group set a $71.00 target price on NIKE and gave the stock a “neutral” rating in a research note on Friday, September 19th. Piper Sandler set a $84.00 price objective on NIKE and gave the company an “overweight” rating in a research report on Wednesday, October 1st. KeyCorp set a $90.00 price objective on NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Evercore ISI cut their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. Finally, Robert W. Baird lifted their price objective on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.57.

NIKE Stock Performance

Shares of NKE opened at $69.03 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average price is $74.28 and its 200-day moving average price is $67.28. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The stock has a market cap of $101.95 billion, a P/E ratio of 35.40, a P/E/G ratio of 2.61 and a beta of 1.29.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. NIKE’s payout ratio is presently 82.05%.

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.