Trust Co of Kansas Trims Position in NIKE, Inc. (NYSE:NKE)

Trust Co of Kansas lowered its position in NIKE, Inc. (NYSE:NKE) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,147 shares of the footwear maker’s stock after selling 796 shares during the quarter. NIKE comprises about 2.4% of Trust Co of Kansas’ holdings, making the stock its 20th biggest holding. Trust Co of Kansas’ holdings in NIKE were worth $5,081,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Loomis Sayles & Co. L P increased its holdings in shares of NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after buying an additional 6,507,856 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after acquiring an additional 2,357,745 shares during the last quarter. State Street Corp raised its position in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Holocene Advisors LP acquired a new position in shares of NIKE in the 3rd quarter valued at $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of NIKE during the 3rd quarter worth $144,927,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

NKE stock opened at $70.89 on Friday. The business has a 50 day moving average price of $75.87 and a 200 day moving average price of $77.96. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.

Analysts Set New Price Targets

A number of research analysts have commented on NKE shares. TD Cowen decreased their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 target price on shares of NIKE in a research report on Friday, December 20th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Finally, DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus 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.