Indiana Trust & Investment Management CO trimmed its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,874 shares of the footwear maker’s stock after selling 339 shares during the period. Indiana Trust & Investment Management CO’s holdings in NIKE were worth $1,200,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of NKE. America First Investment Advisors LLC purchased a new stake in NIKE during the first quarter worth $27,000. Tucker Asset Management LLC acquired a new position in shares of NIKE in the first quarter worth about $29,000. Financial Freedom LLC purchased a new stake in shares of NIKE during the 4th quarter worth about $29,000. Ruedi Wealth Management Inc. purchased a new position in shares of NIKE in the 4th quarter valued at about $30,000. Finally, Worth Asset Management LLC acquired a new position in NIKE in the 1st quarter worth about $32,000. 63.42% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NKE has been the subject of several research analyst reports. KeyCorp began coverage on NIKE in a research note on Tuesday, July 25th. They set a “sector weight” rating for the company. UBS Group increased their price objective on shares of NIKE from $145.00 to $150.00 in a report on Friday, June 30th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $133.00 to $126.00 in a research report on Friday, June 23rd. Citigroup reduced their price target on shares of NIKE from $125.00 to $109.00 in a research report on Tuesday, June 13th. Finally, Stifel Nicolaus lowered their price objective on NIKE from $143.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, August 28th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.28.
NIKE Stock Performance
NKE traded up $0.31 on Friday, reaching $97.50. The company had a trading volume of 1,926,581 shares, compared to its average volume of 6,882,785. The stock has a 50-day moving average price of $105.02 and a 200-day moving average price of $113.02. The stock has a market capitalization of $149.17 billion, a PE ratio of 30.30, a P/E/G ratio of 1.70 and a beta of 1.12. NIKE, Inc. has a 1 year low of $82.22 and a 1 year high of $131.31. The company has a quick ratio of 1.81, a current ratio of 2.72 and a debt-to-equity ratio of 0.64.
NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.02). NIKE had a return on equity of 34.01% and a net margin of 9.90%. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.58 billion. During the same period last year, the firm earned $0.90 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 3.71 EPS for the current fiscal year.
NIKE Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, September 1st. NIKE’s dividend payout ratio (DPR) is presently 42.11%.
Insider Buying and Selling at NIKE
In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total value of $11,943,800.00. Following the transaction, the chairman now owns 1,334,781 shares of the company’s stock, valued at $144,930,520.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Johanna Nielsen sold 1,706 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total transaction of $182,542.00. Following the sale, the vice president now owns 954 shares of the company’s stock, valued at $102,078. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total value of $11,943,800.00. Following the sale, the chairman now directly owns 1,334,781 shares in the company, valued at approximately $144,930,520.98. The disclosure for this sale can be found here. Insiders sold a total of 157,251 shares of company stock valued at $17,063,257 in the last ninety days. Insiders own 0.50% of the company’s stock.
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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