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

OLD National Bancorp IN reduced its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,632 shares of the footwear maker's stock after selling 3,488 shares during the period. OLD National Bancorp IN's holdings in NIKE were worth $1,561,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NKE. Garrison Point Advisors LLC lifted its holdings in NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker's stock valued at $593,000 after acquiring an additional 126 shares during the last quarter. Stephens Consulting LLC lifted its stake in shares of NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker's stock valued at $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC grew its holdings in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker's stock worth $55,000 after purchasing an additional 130 shares during the period. Chapin Davis Inc. increased its position in shares of NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker's stock worth $1,010,000 after purchasing an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its holdings in NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker's stock valued at $742,000 after buying an additional 133 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Cowen dropped their price target on shares of NIKE from $78.00 to $73.00 and set a "hold" rating for the company in a research report on Monday, November 18th. UBS Group reissued a "neutral" rating and issued a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. JPMorgan Chase & Co. lowered their price target on NIKE from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Monday, December 2nd. Evercore ISI cut their price objective on NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Finally, Morgan Stanley lowered their target price on NIKE from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.96.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business's stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

NIKE Price Performance

NKE stock opened at $76.82 on Friday. The business has a 50 day moving average price of $75.61 and a 200 day moving average price of $77.95. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $113.62 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.44 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.11 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The company's revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.09 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from NIKE's previous quarterly dividend of $0.37. NIKE's payout ratio is 49.38%.

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.

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