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

1ST Source Bank lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,776 shares of the footwear maker’s stock after selling 2,947 shares during the period. 1ST Source Bank’s holdings in NIKE were worth $2,177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JNBA Financial Advisors grew its stake in NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares in the last quarter. Frisch Financial Group Inc. grew its stake in NIKE by 4.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after acquiring an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after acquiring an additional 136 shares in the last quarter. GAMMA Investing LLC grew its stake in NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after acquiring an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC grew its stake in NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 1.3 %

Shares of NYSE:NKE opened at $71.72 on Monday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $101.92. The company’s 50 day moving average is $74.68 and its two-hundred day moving average is $77.77. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market cap of $106.08 billion, a PE ratio of 22.14, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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 company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm posted $1.03 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several analyst reports. Robert W. Baird dropped their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Morgan Stanley dropped their price target on shares of NIKE from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday. Bank of America dropped their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Evercore ISI dropped their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.69.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.