First Interstate Bank Has $5.51 Million Holdings in Nike, Inc. (NKE)

First Interstate Bank lowered its position in Nike, Inc. (NYSE:NKE) by 2.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,321 shares of the footwear maker’s stock after selling 2,155 shares during the period. First Interstate Bank’s holdings in Nike were worth $5,506,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Asset Planning Services Ltd. raised its position in shares of Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the period. Stearns Financial Services Group raised its position in shares of Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after acquiring an additional 17 shares during the period. Accredited Investors Inc. raised its position in shares of Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after acquiring an additional 19 shares during the period. Montecito Bank & Trust raised its position in shares of Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after acquiring an additional 24 shares during the period. Finally, Smith Shellnut Wilson LLC ADV raised its position in shares of Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 62.51% of the company’s stock.

Shares of Nike, Inc. (NYSE:NKE) opened at 53.66 on Tuesday. The stock has a 50 day moving average of $52.57 and a 200-day moving average of $54.67. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. The firm has a market capitalization of $87.55 billion, a price-to-earnings ratio of 22.84 and a beta of 0.61.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the previous year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Nike, Inc. will post $2.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. Nike’s payout ratio is currently 30.64%.

A number of brokerages have weighed in on NKE. UBS AG reiterated a “buy” rating and issued a $62.00 price objective (down previously from $63.00) on shares of Nike in a research report on Tuesday, June 27th. FBR & Co set a $53.00 price objective on shares of Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. Wells Fargo & Company set a $56.00 price objective on shares of Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. Piper Jaffray Companies set a $50.00 price objective on shares of Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. Finally, Canaccord Genuity set a $51.00 price objective on shares of Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Nike has an average rating of “Hold” and a consensus price target of $59.04.

In other news, insider Eric D. Sprunk sold 112,323 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the transaction, the insider now directly owns 139,551 shares of the company’s stock, valued at $8,179,084.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the transaction, the director now directly owns 25,660 shares in the company, valued at $1,371,527. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

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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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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