M&T Bank Corp Trims Stock Position in NIKE, Inc. (NYSE:NKE)

M&T Bank Corp cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 296,054 shares of the footwear maker’s stock after selling 12,697 shares during the quarter. M&T Bank Corp’s holdings in NIKE were worth $22,403,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Range Financial Group LLC purchased a new position in NIKE during the fourth quarter worth about $642,000. Cacti Asset Management LLC purchased a new position in NIKE during the fourth quarter worth about $9,987,000. Capricorn Fund Managers Ltd purchased a new position in NIKE during the fourth quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its position in NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after buying an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC lifted its position in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after buying an additional 8,504 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research reports. Telsey Advisory Group restated a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Stifel Nicolaus cut their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $77.76 on Thursday. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $102.49. The business has a 50 day moving average price of $74.70 and a two-hundred day moving average price of $78.25. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $115.01 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. NIKE’s payout ratio is 49.38%.

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.