Independence Bank of Kentucky Lowers Position in NIKE, Inc. (NYSE:NKE)

Independence Bank of Kentucky cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,003 shares of the footwear maker’s stock after selling 855 shares during the period. Independence Bank of Kentucky’s holdings in NIKE were worth $846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NKE. Norges Bank purchased a new position in NIKE during the fourth quarter valued at $1,315,097,000. Price T Rowe Associates Inc. MD lifted its position in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Capital International Investors lifted its position in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of NIKE by 13,094.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock valued at $169,722,000 after acquiring an additional 1,551,405 shares in the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd lifted its position in shares of NIKE by 25.5% in the fourth quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 4,714,494 shares of the footwear maker’s stock valued at $511,853,000 after acquiring an additional 957,612 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 20.0 %

Shares of NYSE NKE traded down $18.82 during midday trading on Friday, hitting $75.37. The company’s stock had a trading volume of 129,966,982 shares, compared to its average volume of 9,446,953. 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 business’s 50 day moving average is $93.28 and its two-hundred day moving average is $99.15. NIKE, Inc. has a 12-month low of $74.55 and a 12-month high of $123.39. The firm has a market cap of $113.76 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 3.9 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.96%. NIKE’s payout ratio is currently 39.68%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NKE. Citigroup lowered their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday. HSBC lowered their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday. Oppenheimer restated an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research report on Friday. Wedbush lowered their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Evercore ISI lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.96.

Insiders Place Their Bets

In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last ninety days. 0.50% of the stock is owned by company 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.