First Citizens Bank & Trust Co. Raises Stake in NIKE, Inc. (NYSE:NKE)

First Citizens Bank & Trust Co. raised its holdings in NIKE, Inc. (NYSE:NKE) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 79,999 shares of the footwear maker’s stock after buying an additional 1,393 shares during the period. First Citizens Bank & Trust Co.’s holdings in NIKE were worth $5,078,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter worth approximately $28,000. Roxbury Financial LLC purchased a new stake in shares of NIKE during the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA lifted its position in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in shares of NIKE in the 4th quarter valued at $30,000. Finally, EnRich Financial Partners LLC grew its position in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after buying an additional 273 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NKE. Guggenheim reissued a “buy” rating and issued a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. Needham & Company LLC decreased their target price on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Morgan Stanley cut their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Berenberg Bank initiated coverage on NIKE in a report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 price objective for the company. Finally, Cfra Research upgraded shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.26.

Insider Activity

In other news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Trading Up 0.2%

NYSE:NKE opened at $62.82 on Monday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a fifty day moving average price of $58.86 and a two-hundred day moving average price of $69.15. The stock has a market capitalization of $92.92 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the firm posted $0.98 EPS. The business’s revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business 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. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

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.