Commerce Bank Has $12.64 Million Stake in NIKE, Inc. (NYSE:NKE)

Commerce Bank boosted its holdings in NIKE, Inc. (NYSE:NKE) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,494 shares of the footwear maker’s stock after buying an additional 2,178 shares during the period. Commerce Bank’s holdings in NIKE were worth $12,640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in NIKE during the 4th quarter worth approximately $1,315,097,000. Price T Rowe Associates Inc. MD raised its holdings in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Capital International Investors boosted its stake in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Jennison Associates LLC increased its holdings in 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 purchasing an additional 2,775,510 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in NIKE by 13,094.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock worth $169,722,000 after purchasing an additional 1,551,405 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NYSE:NKE traded down $0.58 during trading on Wednesday, reaching $71.88. 12,747,027 shares of the stock were exchanged, compared to its average volume of 11,067,241. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $90.63 and a 200-day moving average price of $96.64. NIKE, Inc. has a 12 month low of $71.67 and a 12 month high of $123.39. The firm has a market cap of $108.49 billion, a PE ratio of 19.29, a PEG ratio of 1.87 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. Research analysts expect that NIKE, Inc. will post 3.17 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.06%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NKE. BMO Capital Markets decreased their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Telsey Advisory Group lowered their price objective on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. TD Cowen reduced their target price on shares of NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a report on Friday, June 28th. Piper Sandler decreased their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Finally, UBS Group reissued a “neutral” rating and set a $78.00 price target on shares of NIKE in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, NIKE presently has an average rating of “Hold” and an average target price of $97.19.

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.