1ST Source Bank Sells 2,947 Shares of NIKE, Inc. (NYSE:NKE)

1ST Source Bank trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,776 shares of the footwear maker’s stock after selling 2,947 shares during the quarter. 1ST Source Bank’s holdings in NIKE were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Provident Co of the Employees of the Hebrew University LTD lifted its holdings in shares of NIKE by 159.3% during the 4th quarter. Provident Co of the Employees of the Hebrew University LTD now owns 33,358 shares of the footwear maker’s stock valued at $2,526,000 after buying an additional 20,495 shares during the period. Cibc World Markets Corp lifted its holdings in shares of NIKE by 7.2% during the 4th quarter. Cibc World Markets Corp now owns 330,606 shares of the footwear maker’s stock valued at $25,017,000 after buying an additional 22,338 shares during the period. Arbor Capital Management Inc. ADV lifted its holdings in shares of NIKE by 2.3% during the 4th quarter. Arbor Capital Management Inc. ADV now owns 15,275 shares of the footwear maker’s stock valued at $1,169,000 after buying an additional 348 shares during the period. IMG Wealth Management Inc. bought a new position in shares of NIKE during the 4th quarter valued at $46,000. Finally, Nicholas Company Inc. lifted its holdings in shares of NIKE by 9.3% during the 4th quarter. Nicholas Company Inc. now owns 74,267 shares of the footwear maker’s stock valued at $5,620,000 after buying an additional 6,297 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 1.3 %

Shares of NYSE:NKE opened at $71.72 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $101.92. The company has a 50-day moving average price of $74.68 and a 200 day moving average price of $77.77. The company has a market cap of $106.08 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results 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 net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NKE shares. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Guggenheim restated a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Truist Financial reduced their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. BMO Capital Markets upped their price objective on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, UBS Group restated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $89.69.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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.