Bremer Bank National Association Sells 560 Shares of NIKE, Inc. (NYSE:NKE)

Bremer Bank National Association trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,538 shares of the footwear maker’s stock after selling 560 shares during the quarter. Bremer Bank National Association’s holdings in NIKE were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NKE. Pacer Advisors Inc. raised its position in shares of NIKE by 9.6% during the second quarter. Pacer Advisors Inc. now owns 107,821 shares of the footwear maker’s stock worth $8,126,000 after acquiring an additional 9,471 shares during the last quarter. Sei Investments Co. raised its position in shares of NIKE by 26.7% during the second quarter. Sei Investments Co. now owns 985,520 shares of the footwear maker’s stock worth $74,279,000 after acquiring an additional 207,548 shares during the last quarter. Summit Trail Advisors LLC grew its stake in NIKE by 23.4% during the second quarter. Summit Trail Advisors LLC now owns 13,699 shares of the footwear maker’s stock worth $1,037,000 after purchasing an additional 2,594 shares during the period. Westwood Holdings Group Inc. acquired a new stake in NIKE during the second quarter worth approximately $231,000. Finally, Legacy Financial Advisors Inc. grew its stake in NIKE by 17.0% during the second quarter. Legacy Financial Advisors Inc. now owns 4,812 shares of the footwear maker’s stock worth $363,000 after purchasing an additional 698 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.

NIKE Stock Performance

Shares of NIKE stock opened at $70.89 on Monday. The business’s fifty day simple moving average is $75.77 and its 200 day simple moving average is $77.94. The firm has a market capitalization of $104.85 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.32 and a 12 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.

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

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.26%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is presently 49.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Guggenheim decreased their target price on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Stifel Nicolaus decreased their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Finally, Evercore ISI decreased their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $89.96.

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.