German American Bancorp Inc. Reduces Position in NIKE, Inc. (NYSE:NKE)

German American Bancorp Inc. lessened its holdings in shares of NIKE, Inc. (NYSE:NKEFree Report) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,222 shares of the footwear maker’s stock after selling 4,385 shares during the quarter. German American Bancorp Inc.’s holdings in NIKE were worth $6,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Iron Horse Wealth Management LLC boosted its position in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. bought a new stake in shares of NIKE during the 4th quarter valued at $29,000. Raleigh Capital Management Inc. raised its position in shares of NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 216 shares during the period. OFI Invest Asset Management bought a new stake in shares of NIKE during the 3rd quarter valued at $37,000. Finally, Mizuho Securities Co. Ltd. raised its position in shares of NIKE by 100.0% during the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NKE has been the topic of several recent analyst reports. Barclays decreased their price objective on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $113.00 in a research report on Thursday, April 11th. Jefferies Financial Group reduced their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Robert W. Baird dropped their price objective on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, Sanford C. Bernstein reduced their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have given a 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 $116.26.

Check Out Our Latest Analysis on NKE

NIKE Trading Up 0.4 %

Shares of NKE stock traded up $0.41 during trading hours on Friday, reaching $92.18. 12,019,568 shares of the stock were exchanged, compared to its average volume of 7,993,296. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $123.39. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $94.00 and its 200-day moving average price is $102.37. The firm has a market capitalization of $139.13 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07.

NIKE (NYSE:NKEGet Free Report) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, equities analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. NIKE’s payout ratio is 43.53%.

About NIKE

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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