NIKE, Inc. (NYSE:NKE) Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its position in NIKE, Inc. (NYSE:NKE) by 151.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 60,053 shares of the footwear maker’s stock after acquiring an additional 36,183 shares during the period. First Citizens Bank & Trust Co.’s holdings in NIKE were worth $5,309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after acquiring an additional 501,792 shares during the period. Legal & General Group Plc increased its holdings in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares during the last quarter. Jennison Associates LLC raised its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after acquiring an additional 2,775,510 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in NIKE by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock worth $454,151,000 after purchasing an additional 52,500 shares during the last quarter. Finally, Longview Partners Guernsey LTD acquired a new position in NIKE in the first quarter valued at approximately $533,533,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Raymond James reissued a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Sanford C. Bernstein cut their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Barclays reduced their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Evercore ISI lowered their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $82.92 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The business’s fifty day moving average price is $82.64 and its two-hundred day moving average price is $85.32. The stock has a market cap of $125.16 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

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.