NIKE, Inc. (NYSE:NKE) Shares Sold by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 19.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,638 shares of the footwear maker’s stock after selling 399 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in NIKE were worth $145,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC raised its position in shares of NIKE by 12.8% in the third quarter. NorthCrest Asset Manangement LLC now owns 3,378 shares of the footwear maker’s stock valued at $299,000 after buying an additional 383 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in NIKE by 10.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 20,816 shares of the footwear maker’s stock worth $1,840,000 after purchasing an additional 2,009 shares in the last quarter. Forsta AP Fonden boosted its holdings in shares of NIKE by 11.3% during the 3rd quarter. Forsta AP Fonden now owns 287,600 shares of the footwear maker’s stock worth $25,424,000 after purchasing an additional 29,200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NIKE by 126.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 172,074 shares of the footwear maker’s stock valued at $15,390,000 after purchasing an additional 96,027 shares in the last quarter. Finally, Osborne Partners Capital Management LLC grew its position in shares of NIKE by 0.5% in the third quarter. Osborne Partners Capital Management LLC now owns 106,953 shares of the footwear maker’s stock valued at $9,455,000 after purchasing an additional 575 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. Stifel Nicolaus lowered their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. TD Cowen lifted their target price on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company lifted their price target on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Price Performance

Shares of NKE traded down $0.19 during trading hours on Friday, reaching $78.85. 9,385,379 shares of the company traded hands, compared to its average volume of 11,607,228. The stock has a fifty day simple moving average of $82.71 and a 200 day simple moving average of $84.98. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a market capitalization of $118.22 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. As a group, research analysts predict that NIKE, Inc. will post 2.78 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.88%. NIKE’s dividend payout ratio is presently 42.41%.

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.