Keybank National Association OH Sells 99,794 Shares of NIKE, Inc. $NKE

Keybank National Association OH decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 36.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,476 shares of the footwear maker’s stock after selling 99,794 shares during the period. Keybank National Association OH’s holdings in NIKE were worth $9,057,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Main Street Financial Solutions LLC grew its stake in shares of NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after acquiring an additional 139 shares in the last quarter. Diligent Investors LLC lifted its position in shares of NIKE by 4.3% during the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after purchasing an additional 153 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in NIKE by 4.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 163 shares during the last quarter. Lakeshore Capital Group Inc. boosted its holdings in NIKE by 2.9% during the fourth quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock worth $374,000 after purchasing an additional 165 shares during the last quarter. Finally, ANB Bank grew its position in NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. Zacks Research lowered shares of NIKE from a “hold” rating to a “strong sell” rating in a research note on Monday, June 1st. Berenberg Bank set a $49.00 target price on NIKE in a research note on Friday. BTIG Research reaffirmed a “buy” rating and issued a $55.00 target price (down from $75.00) on shares of NIKE in a report on Thursday, June 25th. DZ Bank reaffirmed a “buy” rating on shares of NIKE in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group dropped their price target on NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.42.

NIKE Stock Up 0.1%

NIKE stock opened at $44.12 on Friday. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17. The firm has a 50 day moving average price of $43.86 and a 200-day moving average price of $53.16. The company has a market capitalization of $65.34 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.49 and a beta of 1.12. The company has a quick ratio of 1.45, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. NIKE’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, equities analysts predict that NIKE, Inc. will post 1.8 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a $0.41 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. NIKE’s payout ratio is presently 78.47%.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s fiscal Q4 results beat analyst expectations, with revenue and EPS coming in ahead of forecasts, which has helped support the shares and reinforced hopes that the turnaround is starting to take hold. Stock Market Today, July 1: Nike Jumps After Quarterly Results Beat Analyst Estimates
• Positive Sentiment: Several commentaries argue the recent selloff may have gone too far, with some analysts and market watchers calling NIKE a rebound candidate after a difficult year. Prediction: Nike Stock Set for 25% Rebound After Brutal Year
• Neutral Sentiment: Reports highlight that NIKE’s digital sales fell while the company continues shifting its mix between direct-to-consumer and wholesale channels, suggesting the turnaround is still incomplete. Nike Digital Drops 12% as Brands Rebalance D2C and Wholesale
• Negative Sentiment: Barclays reportedly cut its price target on NIKE, signaling lower near-term expectations from one of the long-time bullish banks on the name. Barclays cuts Nike stock price target from $67 to $52
• Negative Sentiment: 7-Eleven filed a trademark lawsuit accusing NIKE of copying branding elements in an upcoming Air Max 95 design, adding legal overhang and potential distraction for the company. 7-Eleven sues Nike over alleged Air Max 95 design infringing brand colors

Insider Activity

In other news, Director John W. Rogers, Jr. acquired 4,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the purchase, the director owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy D. Cook acquired 25,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were acquired at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by company insiders.

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).