Genesee Valley Trust Co. increased its stake in shares of Nike, Inc. (NYSE:NKE) by 0.3% during the first quarter, Holdings Channel reports. The fund owned 35,527 shares of the footwear maker’s stock after buying an additional 98 shares during the period. Nike accounts for 1.4% of Genesee Valley Trust Co.’s portfolio, making the stock its 14th largest position. Genesee Valley Trust Co.’s holdings in Nike were worth $1,979,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NKE. Welch & Forbes LLC boosted its stake in Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock valued at $557,000 after buying an additional 48 shares during the last quarter. Alpha Windward LLC boosted its stake in Nike by 1.5% in the first quarter. Alpha Windward LLC now owns 4,078 shares of the footwear maker’s stock valued at $227,000 after buying an additional 62 shares during the last quarter. BKD Wealth Advisors LLC boosted its stake in Nike by 1.7% in the first quarter. BKD Wealth Advisors LLC now owns 4,431 shares of the footwear maker’s stock valued at $247,000 after buying an additional 73 shares during the last quarter. Monarch Capital Management Inc. boosted its stake in Nike by 1.4% in the first quarter. Monarch Capital Management Inc. now owns 5,495 shares of the footwear maker’s stock valued at $306,000 after buying an additional 75 shares during the last quarter. Finally, Cambridge Advisors Inc. boosted its stake in Nike by 0.3% in the first quarter. Cambridge Advisors Inc. now owns 24,330 shares of the footwear maker’s stock valued at $1,356,000 after buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 65.55% of the company’s stock.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Nike, Inc. (NKE) opened at 52.40 on Friday. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.33. The firm has a market cap of $86.50 billion, a P/E ratio of 21.86 and a beta of 0.47. The stock’s 50 day moving average is $53.14 and its 200 day moving average is $54.21.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.15. The firm had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $8.47 billion. Nike had a return on equity of 32.97% and a net margin of 12.02%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, equities research analysts expect that Nike, Inc. will post $2.41 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Monday, June 5th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, June 1st. Nike’s payout ratio is 30.00%.

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Several equities research analysts recently weighed in on the stock. Jefferies Group LLC restated a “buy” rating and issued a $75.00 price target on shares of Nike in a research report on Wednesday, March 22nd. B. Riley restated a “neutral” rating and issued a $56.00 price target on shares of Nike in a research report on Wednesday, March 22nd. Argus cut shares of Nike from a “buy” rating to a “hold” rating and boosted their price target for the stock from $55.25 to $55.56 in a research report on Tuesday, April 4th. Vetr upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $55.06 price target on the stock in a research report on Thursday, June 15th. Finally, Robert W. Baird restated an “outperform” rating and issued a $62.00 price target on shares of Nike in a research report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $60.30.

In related news, CAO Hilary K. Krane sold 65,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $56.00, for a total transaction of $3,640,000.00. Following the completion of the sale, the chief accounting officer now owns 270,795 shares in the company, valued at $15,164,520. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John R. Thompson, Jr. sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $56.45, for a total value of $790,300.00. Following the sale, the director now owns 55,660 shares of the company’s stock, valued at approximately $3,142,007. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 329,000 shares of company stock valued at $18,430,300. 3.90% of the stock is owned by company insiders.

Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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