OLD National Bancorp IN Has $2.09 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

OLD National Bancorp IN increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 8.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 27,668 shares of the footwear maker’s stock after acquiring an additional 2,074 shares during the period. OLD National Bancorp IN’s holdings in NIKE were worth $2,085,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CCM Investment Advisers LLC lifted its holdings in shares of NIKE by 2.5% during the second quarter. CCM Investment Advisers LLC now owns 125,475 shares of the footwear maker’s stock valued at $9,457,000 after acquiring an additional 3,097 shares during the period. Buffington Mohr McNeal lifted its holdings in NIKE by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 13,373 shares of the footwear maker’s stock valued at $1,008,000 after purchasing an additional 500 shares during the last quarter. Pacifica Partners Inc. boosted its position in NIKE by 1,558.9% in the second quarter. Pacifica Partners Inc. now owns 16,207 shares of the footwear maker’s stock valued at $1,220,000 after buying an additional 15,230 shares in the last quarter. First Financial Corp IN grew its stake in NIKE by 2.6% during the second quarter. First Financial Corp IN now owns 10,187 shares of the footwear maker’s stock worth $768,000 after buying an additional 261 shares during the last quarter. Finally, Cedar Mountain Advisors LLC increased its holdings in shares of NIKE by 4.1% during the second quarter. Cedar Mountain Advisors LLC now owns 4,993 shares of the footwear maker’s stock worth $376,000 after buying an additional 198 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.2 %

NIKE stock traded up $0.15 during midday trading on Friday, hitting $74.34. 7,186,634 shares of the stock were exchanged, compared to its average volume of 11,417,010. The company has a fifty day simple moving average of $81.73 and a two-hundred day simple moving average of $91.72. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $112.21 billion, a PE ratio of 19.93, a P/E/G ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. Equities research analysts anticipate that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.99%. NIKE’s payout ratio is presently 39.68%.

Analysts Set New Price Targets

Several brokerages have recently commented on NKE. Guggenheim reduced their target price on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada decreased their target price on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. Barclays lowered NIKE from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $109.00 to $80.00 in a research note on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.30.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The stock was 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 owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of 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 legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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.