Stock Yards Bank & Trust Co. Trims Stock Holdings in NIKE, Inc. (NYSE:NKE)

Stock Yards Bank & Trust Co. lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 233,702 shares of the footwear maker’s stock after selling 9,016 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in NIKE were worth $17,614,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NKE. Price T Rowe Associates Inc. MD boosted its position in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares during the last quarter. Capital International Investors lifted its stake in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE in the 1st quarter valued at $533,533,000. Capital World Investors increased its stake in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Up 1.0 %

NYSE NKE opened at $79.82 on Tuesday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a 50 day simple moving average of $77.36 and a 200-day simple moving average of $87.47. The firm has a market cap of $120.48 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the company earned $0.66 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NKE shares. Jefferies Financial Group lowered their target price on NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. UBS Group reaffirmed a “neutral” rating and set a $78.00 target price on shares of NIKE in a research note on Friday, June 28th. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $83.00 target price (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Finally, Guggenheim decreased their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.59.

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.