Central Pacific Bank Trust Division Invests $921,000 in NIKE, Inc. $NKE

Central Pacific Bank Trust Division bought a new stake in NIKE, Inc. (NYSE:NKE) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,207 shares of the footwear maker’s stock, valued at approximately $921,000.

Other hedge funds have also bought and sold shares of the company. Mascoma Wealth Management LLC acquired a new position in NIKE during the second quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC boosted its stake in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares during the period. Saudi Central Bank acquired a new position in shares of NIKE during the 1st quarter worth approximately $30,000. Matrix Trust Co raised its stake in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in NIKE in the 2nd quarter valued at $31,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the completion of the purchase, the director directly owned 21,388 shares in the company, valued at $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NYSE:NKE opened at $67.17 on Wednesday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The company’s 50 day moving average price is $65.30 and its two-hundred day moving average price is $69.47. The firm has a market cap of $99.28 billion, a PE ratio of 34.44, a PEG ratio of 2.39 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.64 annualized dividend and a yield of 2.4%. This is a boost from NIKE’s previous quarterly dividend of $0.40. NIKE’s payout ratio is presently 84.10%.

Analyst Ratings Changes

Several research firms have commented on NKE. UBS Group reiterated a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a report on Wednesday, December 10th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $89.00 target price on shares of NIKE in a report on Monday. Sanford C. Bernstein reissued a “buy” rating and issued a $90.00 price target on shares of NIKE in a report on Monday, October 13th. Weiss Ratings upgraded shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Finally, Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $81.24.

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.