OLD National Bancorp IN Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

OLD National Bancorp IN lessened its stake in NIKE, Inc. (NYSE:NKE) by 14.5% during the 4th quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE during the third quarter worth approximately $30,000. VitalStone Financial LLC raised its position in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC lifted its stake in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the period. Riverview Trust Co purchased a new stake in shares of NIKE in the third quarter valued at about $52,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of NIKE during the third quarter worth about $54,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NKE shares. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of NIKE in a research note on Friday, December 20th. Royal Bank of Canada cut their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Stock Down 1.9 %

NKE stock opened at $76.82 on Friday. The company has a 50 day moving average price of $75.61 and a two-hundred day moving average price of $77.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market capitalization of $113.62 billion, a P/E ratio of 23.71, a PEG ratio of 2.44 and a beta of 1.02. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.09 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

Insider Buying and Selling

In related 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 purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.