First Interstate Bank Has $4.05 Million Stake in NIKE, Inc. (NYSE:NKE)

First Interstate Bank cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,773 shares of the footwear maker’s stock after selling 1,058 shares during the period. First Interstate Bank’s holdings in NIKE were worth $4,053,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NKE. Beta Wealth Group Inc. grew its stake in shares of NIKE by 2.3% in the fourth quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock worth $489,000 after purchasing an additional 101 shares during the last quarter. Kampmann Melissa S. increased its stake in shares of NIKE by 0.8% during the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after buying an additional 115 shares during the period. Ascent Wealth Partners LLC raised its holdings in shares of NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after acquiring an additional 115 shares in the last quarter. Condor Capital Management lifted its stake in NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares during the period. Finally, Bell Investment Advisors Inc boosted its holdings in NIKE by 4.7% in the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $79.50 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The firm has a market cap of $119.20 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The business has a 50-day simple moving average of $76.99 and a two-hundred day simple moving average of $88.38. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 3.1 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.86%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling

In other news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on NKE. Morgan Stanley restated an “equal weight” rating and issued a $79.00 price objective (down from $114.00) on shares of NIKE in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. BMO Capital Markets cut their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and increased their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Finally, Citigroup dropped their price target on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $95.59.

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.