UMB Bank n.a. Sells 8,589 Shares of NIKE, Inc. (NYSE:NKE)

UMB Bank n.a. lowered its stake in NIKE, Inc. (NYSE:NKE) by 23.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 27,303 shares of the footwear maker’s stock after selling 8,589 shares during the quarter. UMB Bank n.a.’s holdings in NIKE were worth $2,066,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE during the 3rd quarter valued at $30,000. VitalStone Financial LLC grew its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Dunhill Financial LLC increased its holdings in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the period. Ecofi Investissements SA purchased a new stake in NIKE in the 2nd quarter worth approximately $49,000. Finally, Riverview Trust Co bought a new stake in shares of NIKE in the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $70.89 on Tuesday. The business’s fifty day moving average is $75.77 and its 200 day moving average is $77.95. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market capitalization of $104.85 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on NKE. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of NIKE in a research note on Friday, December 20th. Morgan Stanley cut their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. Jefferies Financial Group lifted their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

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.