Citizens & Northern Corp Lowers Position in NIKE, Inc. (NYSE:NKE)

Citizens & Northern Corp cut its position in NIKE, Inc. (NYSE:NKE) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,402 shares of the footwear maker’s stock after selling 776 shares during the period. NIKE makes up about 0.8% of Citizens & Northern Corp’s investment portfolio, making the stock its 29th largest holding. Citizens & Northern Corp’s holdings in NIKE were worth $2,215,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC grew its position in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. purchased a new position in shares of NIKE during the 4th quarter valued at $29,000. Raleigh Capital Management Inc. lifted its stake in shares of NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after buying an additional 216 shares in the last quarter. Mizuho Securities Co. Ltd. boosted its stake in NIKE by 100.0% in the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 170 shares during the period. Finally, NewSquare Capital LLC grew its holdings in NIKE by 372.0% during the 4th quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock valued at $38,000 after buying an additional 279 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NKE. UBS Group reduced their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. The Goldman Sachs Group reduced their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Telsey Advisory Group dropped their price objective on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Finally, Jefferies Financial Group lowered their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $116.26.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock valued at $19,946,333 over the last 90 days. Insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NKE stock traded down $1.27 during midday trading on Thursday, reaching $91.23. The stock had a trading volume of 5,794,256 shares, compared to its average volume of 9,216,910. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a fifty day simple moving average of $93.49 and a two-hundred day simple moving average of $102.11. The stock has a market cap of $137.70 billion, a PE ratio of 27.08, a P/E/G ratio of 1.79 and a beta of 1.07. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $123.39.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.62%. NIKE’s payout ratio is currently 43.53%.

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.