Montecito Bank & Trust Lowers Stake in NIKE, Inc. (NYSE:NKE)

Montecito Bank & Trust lessened its holdings in NIKE, Inc. (NYSE:NKE) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,107 shares of the footwear maker’s stock after selling 392 shares during the period. Montecito Bank & Trust’s holdings in NIKE were worth $613,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of NKE. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE during the 3rd quarter valued at approximately $30,000. VitalStone Financial LLC lifted its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Dunhill Financial LLC grew its position in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the period. Ecofi Investissements SA purchased a new stake in shares of NIKE during the second quarter worth about $49,000. Finally, Riverview Trust Co purchased a new stake in shares of NIKE during the third quarter worth about $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NKE. UBS Group reiterated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a report on Thursday, December 26th. Truist Financial dropped their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company lowered their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Bank of America reduced their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.96.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

NIKE Trading Down 0.9 %

Shares of NYSE NKE opened at $73.60 on Friday. The stock has a fifty day simple moving average of $75.52 and a 200-day simple moving average of $77.86. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $108.86 billion, a PE ratio of 22.72, a PEG ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. NIKE’s dividend payout ratio is 49.38%.

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.