1ST Source Bank Lowers Holdings in Nike Inc (NKE)
1ST Source Bank cut its position in Nike Inc (NYSE:NKE) by 3.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,608 shares of the footwear maker’s stock after selling 1,485 shares during the quarter. 1ST Source Bank’s holdings in Nike were worth $2,520,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Fiduciary Trust Co. raised its stake in shares of Nike by 4.9% in the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after buying an additional 10,840 shares during the period. Sterling Investment Advisors Ltd. grew its position in shares of Nike by 651.4% in the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after purchasing an additional 23,450 shares in the last quarter. Royal Bank of Scotland Group PLC grew its position in shares of Nike by 6.2% in the first quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after purchasing an additional 12,201 shares in the last quarter. Great Lakes Advisors LLC grew its position in shares of Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after purchasing an additional 4,030 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its position in shares of Nike by 20.0% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after purchasing an additional 17,285 shares in the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.
Shares of Nike Inc (NYSE:NKE) opened at $64.79 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. Nike Inc has a 52 week low of $50.35 and a 52 week high of $65.07. The stock has a market capitalization of $105,689.83, a PE ratio of 27.57, a price-to-earnings-growth ratio of 3.03 and a beta of 0.64.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.23%. This is a positive change from Nike’s previous quarterly dividend of $0.18. Nike’s payout ratio is 34.04%.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at $1,441,376. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
NKE has been the subject of several recent research reports. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price target for the company in a research report on Wednesday, October 4th. Susquehanna Bancshares reiterated a “hold” rating and issued a $57.00 price target on shares of Nike in a research report on Wednesday, December 13th. Jefferies Group cut Nike from a “buy” rating to a “hold” rating and reduced their price target for the company from $75.00 to $60.00 in a research report on Monday, August 21st. Canaccord Genuity reiterated a “hold” rating and issued a $50.00 price target (down from $51.00) on shares of Nike in a research report on Wednesday, September 27th. Finally, Instinet reiterated a “buy” rating and issued a $62.00 price target (up from $59.00) on shares of Nike in a research report on Wednesday, September 27th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $60.67.
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NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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