NIKE, Inc. (NYSE:NKE) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.1% during the fourth quarter, HoldingsChannel reports. The firm owned 26,059 shares of the footwear maker’s stock after selling 2,298 shares during the period. OLD National Bancorp IN’s holdings in NIKE were worth $2,829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Impact Partnership Wealth LLC increased its position in shares of NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 181 shares during the last quarter. Iron Horse Wealth Management LLC increased its position in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE during the fourth quarter worth about $29,000. Raleigh Capital Management Inc. increased its position in shares of NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after acquiring an additional 216 shares during the last quarter. Finally, Stephens Consulting LLC increased its holdings in NIKE by 160.0% in the third quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock valued at $37,000 after buying an additional 240 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Williams Trading reaffirmed a “sell” rating and set a $85.00 target price (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Barclays lowered their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Sanford C. Bernstein lowered their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Robert W. Baird lowered their target price on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, Oppenheimer lowered NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price for the company. in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Trading Down 0.3 %

NYSE NKE opened at $94.20 on Tuesday. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $142.18 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The firm’s fifty day simple moving average is $97.85 and its 200-day simple moving average is $103.46.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is presently 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.