M&T Bank Corp Decreases Position in NIKE, Inc. (NYSE:NKE)

M&T Bank Corp decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 296,054 shares of the footwear maker’s stock after selling 12,697 shares during the quarter. M&T Bank Corp’s holdings in NIKE were worth $22,403,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Range Financial Group LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in NIKE in the fourth quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after buying an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its stake in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.6 %

NIKE stock opened at $77.76 on Thursday. 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 firm has a market capitalization of $115.01 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $102.49. The stock’s fifty day moving average is $74.70 and its two-hundred day moving average is $78.25.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. NIKE’s dividend payout ratio is currently 49.38%.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research reports. Bank of America reduced their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $115.00 in a research note on Monday, February 24th. UBS Group restated a “neutral” rating and set a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Robert W. Baird cut their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.77.

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.