Crews Bank & Trust Takes Position in NIKE, Inc. (NYSE:NKE)

Crews Bank & Trust acquired a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,239 shares of the footwear maker's stock, valued at approximately $623,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Sunbelt Securities Inc. increased its stake in NIKE by 5.9% during the second quarter. Sunbelt Securities Inc. now owns 3,615 shares of the footwear maker's stock worth $272,000 after acquiring an additional 203 shares during the last quarter. Quarry LP increased its position in shares of NIKE by 55.7% during the 2nd quarter. Quarry LP now owns 1,517 shares of the footwear maker's stock worth $114,000 after purchasing an additional 543 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in NIKE by 7.1% in the 2nd quarter. Regal Investment Advisors LLC now owns 8,076 shares of the footwear maker's stock valued at $609,000 after buying an additional 535 shares during the period. Truist Financial Corp boosted its stake in NIKE by 120.1% during the second quarter. Truist Financial Corp now owns 1,430,625 shares of the footwear maker's stock worth $107,826,000 after buying an additional 780,507 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of NIKE by 6.8% during the second quarter. Cetera Investment Advisers now owns 230,215 shares of the footwear maker's stock valued at $17,351,000 after acquiring an additional 14,584 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm's stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company's stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler raised shares of NIKE from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Truist Financial lowered 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. Bank of America cut their price objective on NIKE from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Telsey Advisory Group downgraded NIKE from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $89.96.

NIKE Price Performance

Shares of NYSE NKE traded up $1.70 on Thursday, hitting $78.28. The company's stock had a trading volume of 10,894,537 shares, compared to its average volume of 12,164,288. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a 50 day moving average of $75.55 and a 200-day moving average of $77.95. NIKE, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43. The company has a market capitalization of $115.79 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analysts' expectations of $12.11 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. NIKE's quarterly revenue was down 7.7% on a year-over-year basis. As a group, research analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. This is a positive change from NIKE's previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE's dividend payout ratio is 49.38%.

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.