NIKE, Inc. (NYSE:NKE) Shares Sold by 1ST Source Bank

1ST Source Bank trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,496 shares of the footwear maker’s stock after selling 295 shares during the period. 1ST Source Bank’s holdings in NIKE were worth $2,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Annapolis Financial Services LLC boosted its stake in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the period. True Wealth Design LLC boosted its stake in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new position in NIKE during the 4th quarter valued at about $33,000. Core Wealth Advisors Inc. boosted its stake in NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new position in NIKE during the 4th quarter valued at about $36,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE opened at $79.01 on Friday. The company’s 50 day moving average price is $77.23 and its 200 day moving average price is $87.88. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a market capitalization of $118.46 billion, a PE ratio of 21.18, a PEG ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. Research analysts expect that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Evercore ISI dropped their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. BMO Capital Markets dropped their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Barclays downgraded shares of NIKE from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $109.00 to $80.00 in a research report on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.59.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

NIKE 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.