Cullen Frost Bankers Inc. Sells 3,537 Shares of NIKE, Inc. (NYSE:NKE)

Cullen Frost Bankers Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,508 shares of the footwear maker’s stock after selling 3,537 shares during the period. Cullen Frost Bankers Inc.’s holdings in NIKE were worth $10,586,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NKE. FMR LLC boosted its position in NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after acquiring an additional 125,746 shares during the last quarter. Northern Trust Corp grew its position in NIKE by 4.5% in the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after purchasing an additional 674,198 shares in the last quarter. Fisher Asset Management LLC lifted its position in NIKE by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after buying an additional 219,091 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in NIKE by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock worth $766,829,000 after buying an additional 89,947 shares in the last quarter. Finally, Newport Trust Company LLC acquired a new position in shares of NIKE during the 3rd quarter worth about $679,775,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NKE shares. Wedbush reaffirmed an “outperform” rating and issued a $115.00 target price on shares of NIKE in a research report on Tuesday, April 30th. Wells Fargo & Company dropped their price objective on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Citigroup cut their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Sanford C. Bernstein lowered their target price on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, Truist Financial reiterated a “hold” rating and issued a $111.00 price target on shares of NIKE in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

NYSE:NKE traded down $0.19 during trading hours on Wednesday, reaching $93.59. 5,372,445 shares of the company were exchanged, compared to its average volume of 9,174,146. The business has a 50 day moving average of $95.28 and a 200 day moving average of $102.91. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $126.46. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a market capitalization of $141.26 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Research analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared 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 is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. NIKE’s payout ratio is 43.53%.

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by insiders.

NIKE Company 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.