NIKE, Inc. (NYSE:NKE) Shares Sold by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 2.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,829 shares of the footwear maker’s stock after selling 243 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in NIKE were worth $668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $28,000. Caitlin John LLC boosted its position in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the third quarter valued at about $30,000. VitalStone Financial LLC grew its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Finally, Dunhill Financial LLC raised its stake in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NKE opened at $71.35 on Wednesday. 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’s 50 day moving average price is $74.95 and its two-hundred day moving average price is $78.09. The firm has a market capitalization of $105.53 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.43.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NKE shares. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NIKE in a research note on Friday, February 7th. Wells Fargo & Company lowered their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Truist Financial cut their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley dropped their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $88.62.

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.