OLD National Bancorp IN Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

OLD National Bancorp IN trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,059 shares of the footwear maker’s stock after selling 2,298 shares during the period. OLD National Bancorp IN’s holdings in NIKE were worth $2,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Oliver Luxxe Assets LLC raised its holdings in NIKE by 2.9% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after buying an additional 1,041 shares during the period. Louisiana State Employees Retirement System bought a new position in NIKE in the 4th quarter valued at $8,034,000. Financial Gravity Asset Management Inc. grew its position in NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after acquiring an additional 176,476 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of NIKE by 10,184.3% during the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after buying an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC grew its position in shares of NIKE by 55.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after buying an additional 69,363 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the topic of a number of recent research reports. Morgan Stanley dropped their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. HSBC decreased their price objective on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. The Goldman Sachs Group reduced their price objective on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. TheStreet cut NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Finally, Citigroup reduced their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Price Performance

NYSE:NKE opened at $94.20 on Tuesday. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $142.18 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.82 and a beta of 1.09. The stock’s fifty day moving average is $97.85 and its two-hundred day moving average is $103.46.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Equities analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. NIKE’s payout ratio is presently 43.53%.

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.