M&T Bank Corp Sells 7,055 Shares of NIKE, Inc. (NYSE:NKE)

M&T Bank Corp cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 570,652 shares of the footwear maker’s stock after selling 7,055 shares during the period. M&T Bank Corp’s holdings in NIKE were worth $61,956,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Excalibur Management Corp boosted its stake in shares of NIKE by 1.9% during the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock valued at $492,000 after purchasing an additional 98 shares in the last quarter. Jeppson Wealth Management LLC boosted its stake in shares of NIKE by 4.5% during the third quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock valued at $221,000 after purchasing an additional 100 shares in the last quarter. Cairn Investment Group Inc. boosted its stake in shares of NIKE by 4.2% during the third quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock valued at $239,000 after purchasing an additional 100 shares in the last quarter. Tiemann Investment Advisors LLC boosted its stake in shares of NIKE by 3.1% during the third quarter. Tiemann Investment Advisors LLC now owns 3,340 shares of the footwear maker’s stock valued at $319,000 after purchasing an additional 100 shares in the last quarter. Finally, Piscataqua Savings Bank boosted its stake in NIKE by 2.1% in the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after acquiring an additional 100 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on NKE. UBS Group lowered their target price on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Stifel Nicolaus lowered their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Jefferies Financial Group lowered their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. HSBC lowered their target price on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Finally, Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Price Performance

NYSE NKE traded down $0.26 during trading hours on Friday, reaching $92.15. The company’s stock had a trading volume of 5,736,711 shares, compared to its average volume of 8,740,078. The firm has a market capitalization of $139.09 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 1.78 and a beta of 1.07. The company’s 50-day moving average is $95.73 and its two-hundred day moving average is $103.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $127.69.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. On average, equities analysts predict that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.61%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 43.53%.

About NIKE

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.