Citizens & Northern Corp Trims Stake in NIKE, Inc. $NKE

Citizens & Northern Corp reduced its holdings in NIKE, Inc. (NYSE:NKE) by 4.5% during the second quarter, Holdings Channel.com reports. The fund owned 16,410 shares of the footwear maker’s stock after selling 780 shares during the quarter. Citizens & Northern Corp’s holdings in NIKE were worth $1,166,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NKE. Mitchell Mcleod Pugh & Williams Inc. grew its position in NIKE by 1.0% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after acquiring an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. raised its holdings in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after buying an additional 142 shares in the last quarter. Salomon & Ludwin LLC lifted its position in NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after buying an additional 145 shares during the last quarter. Westmount Partners LLC grew its position in NIKE by 2.9% during the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after acquiring an additional 146 shares during the last quarter. Finally, HB Wealth Management LLC grew its holdings in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after purchasing an additional 147 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NKE. Hsbc Global Res raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Evercore ISI dropped their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Truist Financial reissued a “buy” rating and set a $85.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Finally, Barclays set a $70.00 target price on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Stock Performance

Shares of NKE stock opened at $68.39 on Wednesday. The company’s fifty day moving average price is $72.84 and its 200-day moving average price is $67.56. The stock has a market cap of $101.09 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 2.49 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is 82.05%.

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.