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

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oliver Luxxe Assets LLC boosted its holdings in shares of NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after purchasing an additional 1,041 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of NIKE in the 4th quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. increased its stake in shares of NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after buying an additional 176,476 shares during the period. International Assets Investment Management LLC raised its holdings in shares of NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after acquiring an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC raised its holdings in shares of NIKE by 55.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock valued at $21,080,000 after acquiring an additional 69,363 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

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

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for 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 fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NKE. Wells Fargo & Company cut their price target on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Evercore ISI decreased their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Morgan Stanley lowered their price objective on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. HSBC reduced their target price on NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Finally, Citigroup lowered their target price on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

Insider Buying and Selling at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on 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 completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

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.