First Financial Corp IN Grows Stock Position in NIKE, Inc. (NYSE:NKE)

First Financial Corp IN boosted its position in NIKE, Inc. (NYSE:NKEGet Rating) by 3.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,044 shares of the footwear maker’s stock after buying an additional 363 shares during the quarter. NIKE makes up about 0.7% of First Financial Corp IN’s holdings, making the stock its 27th largest position. First Financial Corp IN’s holdings in NIKE were worth $1,026,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of NIKE in the fourth quarter valued at $1,894,686,000. State Street Corp grew its position in shares of NIKE by 3.6% in the fourth quarter. State Street Corp now owns 56,598,375 shares of the footwear maker’s stock valued at $9,433,251,000 after purchasing an additional 1,969,270 shares in the last quarter. Wellington Management Group LLP grew its position in shares of NIKE by 9.0% in the first quarter. Wellington Management Group LLP now owns 18,040,233 shares of the footwear maker’s stock valued at $2,427,495,000 after purchasing an additional 1,486,421 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of NIKE by 221.5% in the first quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the footwear maker’s stock valued at $275,368,000 after purchasing an additional 1,409,913 shares in the last quarter. Finally, Capital International Investors grew its position in shares of NIKE by 16.8% in the fourth quarter. Capital International Investors now owns 8,852,183 shares of the footwear maker’s stock valued at $1,475,513,000 after purchasing an additional 1,274,615 shares in the last quarter. 64.19% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 1.9 %

Shares of NIKE stock traded down $1.85 during midday trading on Friday, hitting $96.70. The company had a trading volume of 459,705 shares, compared to its average volume of 6,103,385. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.84 and a current ratio of 2.63. The stock has a market capitalization of $151.68 billion, a P/E ratio of 25.52, a P/E/G ratio of 2.11 and a beta of 1.03. The company has a 50 day moving average of $109.72 and a 200 day moving average of $115.81. NIKE, Inc. has a 52-week low of $97.83 and a 52-week high of $179.10.

NIKE (NYSE:NKEGet Rating) last posted its quarterly earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.09. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $12.10 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 EPS. On average, equities analysts predict that NIKE, Inc. will post 3.78 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, September 2nd. NIKE’s dividend payout ratio is currently 32.45%.

NIKE announced that its Board of Directors has authorized a share buyback plan on Monday, June 27th that permits the company to buyback $18.00 billion in shares. This buyback authorization permits the footwear maker to purchase up to 11% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler initiated coverage on NIKE in a research report on Wednesday, August 3rd. They issued a “neutral” rating and a $115.00 price target for the company. JPMorgan Chase & Co. set a $130.00 price objective on NIKE in a research note on Wednesday, August 10th. BNP Paribas lowered NIKE from an “outperform” rating to a “neutral” rating and set a $118.00 price objective for the company. in a research note on Tuesday, August 9th. Wells Fargo & Company dropped their price objective on NIKE from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. Finally, Seaport Res Ptn lowered NIKE from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 22nd. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $131.81.

Insider Buying and Selling

In other news, CFO Matthew Friend sold 4,139 shares of NIKE stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total value of $469,445.38. Following the completion of the transaction, the chief financial officer now owns 56,539 shares in the company, valued at approximately $6,412,653.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Matthew Friend sold 4,139 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total transaction of $469,445.38. Following the completion of the sale, the chief financial officer now directly owns 56,539 shares of the company’s stock, valued at approximately $6,412,653.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew Campion sold 5,922 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total value of $671,673.24. Following the sale, the chief operating officer now directly owns 75,295 shares of the company’s stock, valued at $8,539,958.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,561 shares of company stock worth $6,374,094. 0.40% of the stock is owned by corporate insiders.

NIKE Profile

(Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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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