Community Trust & Investment Co. Lowers Holdings in NIKE, Inc. $NKE

Community Trust & Investment Co. lowered its holdings in NIKE, Inc. (NYSE:NKE) by 27.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,608 shares of the footwear maker’s stock after selling 40,718 shares during the period. Community Trust & Investment Co.’s holdings in NIKE were worth $6,983,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NKE. Main Street Financial Solutions LLC boosted its position in NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after buying an additional 139 shares during the period. St. Clair Advisors LLC grew its stake in shares of NIKE by 0.9% in the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after acquiring an additional 140 shares in the last quarter. Spirepoint Private Client LLC increased its position in shares of NIKE by 0.4% during the third quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock worth $2,520,000 after acquiring an additional 153 shares during the period. CVA Family Office LLC increased its position in shares of NIKE by 8.0% during the third quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock worth $147,000 after acquiring an additional 156 shares during the period. Finally, Naples Global Advisors LLC raised its stake in shares of NIKE by 1.9% in the third quarter. Naples Global Advisors LLC now owns 8,514 shares of the footwear maker’s stock valued at $597,000 after acquiring an additional 159 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NKE shares. Guggenheim reiterated a “buy” rating on shares of NIKE in a report on Wednesday, December 31st. Wells Fargo & Company set a $65.00 price target on NIKE and gave the stock an “overweight” rating in a report on Friday, December 19th. Williams Trading reduced their price target on NIKE from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Daiwa Securities Group lowered their price objective on NIKE from $75.00 to $61.00 in a research report on Tuesday, December 23rd. Finally, Telsey Advisory Group cut their target price on shares of NIKE from $75.00 to $72.00 and set a “market perform” rating on the stock in a research note on Friday, December 19th. Twenty-two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.43.

Insider Activity at NIKE

In other NIKE news, CEO Elliott Hill acquired 16,388 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were acquired at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the acquisition, the chief executive officer owned 241,587 shares in the company, valued at $14,760,965.70. The trade was a 7.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.80% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $52.69 on Tuesday. The firm has a market capitalization of $78.01 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.68 and a beta of 1.27. The business’s fifty day moving average price is $61.18 and its 200 day moving average price is $64.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. NIKE, Inc. has a 12 month low of $52.17 and a 12 month high of $80.17.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, March 2nd. NIKE’s dividend payout ratio is currently 96.47%.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).