Iowa State Bank Buys 1,738 Shares of NIKE, Inc. (NYSE:NKE)

Iowa State Bank grew its stake in NIKE, Inc. (NYSE:NKE) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,349 shares of the footwear maker’s stock after purchasing an additional 1,738 shares during the quarter. Iowa State Bank’s holdings in NIKE were worth $2,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Loomis Sayles & Co. L P boosted its position in 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 valued at $575,342,000 after acquiring an additional 6,507,856 shares in the last quarter. State Street Corp boosted its position in shares of NIKE by 3.3% during 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 in the last quarter. Holocene Advisors LP purchased a new stake in NIKE in the third quarter worth $148,635,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in NIKE in the third quarter worth $144,927,000. Finally, Renaissance Technologies LLC lifted its position in NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NIKE stock traded down $0.83 during trading hours on Monday, hitting $72.48. The company’s stock had a trading volume of 8,171,453 shares, compared to its average volume of 9,499,059. The company has a market cap of $108.67 billion, a PE ratio of 20.77, a PEG ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The business has a 50 day moving average price of $76.91 and a two-hundred day moving average price of $79.09. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings results 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 return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. Analysts expect that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is currently 49.38%.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NKE. Jefferies Financial Group upped their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Stifel Nicolaus cut their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Evercore ISI decreased their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Sanford C. Bernstein cut their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Finally, Morgan Stanley decreased their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.58.

About NIKE

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.