CNB Bank Sells 454 Shares of NIKE, Inc. (NYSE:NKE)

CNB Bank reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 12.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,241 shares of the footwear maker’s stock after selling 454 shares during the quarter. CNB Bank’s holdings in NIKE were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in NKE. Moneta Group Investment Advisors LLC grew its stake in shares of NIKE by 139,649.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after acquiring an additional 16,801,276 shares during the period. Norges Bank bought a new position in shares of NIKE during the 4th quarter valued at approximately $1,345,203,000. Newport Trust Company LLC bought a new position in shares of NIKE during the 3rd quarter valued at approximately $679,775,000. Morgan Stanley grew its stake in shares of NIKE by 26.4% during the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after acquiring an additional 6,410,744 shares during the period. Finally, Flossbach Von Storch AG grew its stake in shares of NIKE by 433.5% during the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after acquiring an additional 3,354,677 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NYSE:NKE traded down $1.21 during trading on Friday, hitting $94.53. The stock had a trading volume of 11,241,901 shares, compared to its average volume of 11,692,355. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68. The stock has a market capitalization of $142.68 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.85 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a 50-day simple moving average of $98.11 and a two-hundred day simple moving average of $103.37.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. On average, equities research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s payout ratio is 43.53%.

Analysts Set New Price Targets

Several research firms have weighed in on NKE. Stifel Nicolaus dropped their price target on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of NIKE in a research note on Wednesday, March 27th. Citigroup dropped their price target on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Finally, Piper Sandler dropped their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE 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.