Comerica Bank Has $20.96 Million Stake in NIKE, Inc. (NYSE:NKE)

Comerica Bank cut its stake in NIKE, Inc. (NYSE:NKE) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 276,970 shares of the footwear maker’s stock after selling 57,056 shares during the period. Comerica Bank’s holdings in NIKE were worth $20,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Range Financial Group LLC bought a new position in shares of NIKE during the fourth quarter worth about $642,000. Cacti Asset Management LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its holdings in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Up 0.7 %

NYSE NKE opened at $56.80 on Friday. 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 company has a market cap of $84.01 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.52 and a beta of 1.15. The company has a 50 day moving average of $65.10 and a 200-day moving average of $72.32. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.82%. NIKE’s dividend payout ratio is currently 53.16%.

Wall Street Analyst Weigh In

Several brokerages have commented on NKE. Stifel Nicolaus cut their price target on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Piper Sandler reduced their price target on NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Telsey Advisory Group restated a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research note on Monday, March 17th. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, BMO Capital Markets decreased their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.15.

NIKE Company 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.