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

Horizon Bancorp Inc. IN trimmed its position in NIKE, Inc. (NYSE:NKE) by 22.9% in the 4th quarter, HoldingsChannel reports. The firm owned 1,263 shares of the footwear maker’s stock after selling 375 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in NIKE were worth $96,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the 3rd quarter valued at approximately $30,000. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Dunhill Financial LLC grew its position in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Ecofi Investissements SA purchased a new position in shares of NIKE during the 2nd quarter valued at about $49,000. Finally, Riverview Trust Co acquired a new position in shares of NIKE in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent research reports. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the company from $93.00 to $80.00 in a report on Friday, December 20th. Bank of America dropped their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Truist Financial lowered their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, UBS Group restated a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $89.96.

NIKE Trading Up 1.3 %

NYSE:NKE opened at $72.16 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a market cap of $106.73 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The stock has a fifty day moving average price of $76.19 and a 200 day moving average price of $78.09. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $107.43.

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 10.60% and a return on equity of 39.84%. 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. Sell-side analysts anticipate that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. NIKE’s dividend payout ratio is 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% 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.