First Merchants Corp Purchases New Holdings in Nike Inc (NKE)

First Merchants Corp purchased a new stake in Nike Inc (NYSE:NKE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,745 shares of the footwear maker’s stock, valued at approximately $505,000.

Other institutional investors have also added to or reduced their stakes in the company. Asset Planning Services Ltd. raised its holdings in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the last quarter. Atlantic Trust LLC bought a new stake in Nike during the 2nd quarter worth about $136,000. Howe & Rusling Inc. raised its holdings in Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares during the last quarter. Kistler Tiffany Companies LLC raised its holdings in Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Nike by 7.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after purchasing an additional 201 shares during the last quarter. 62.56% of the stock is owned by institutional investors and hedge funds.

In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 23,248 shares of the company’s stock, valued at approximately $1,511,120. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $65.00, for a total value of $8,775,000.00. Following the transaction, the chairman now directly owns 1,502,830 shares of the company’s stock, valued at approximately $97,683,950. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,094 shares of company stock valued at $17,480,160. Insiders own 3.90% of the company’s stock.

Nike Inc (NYSE:NKE) opened at $64.77 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81. Nike Inc has a 12-month low of $50.35 and a 12-month high of $65.18. The stock has a market capitalization of $103,748.16, a P/E ratio of 27.06, a P/E/G ratio of 2.99 and a beta of 0.64.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same period in the previous year, the firm earned $0.50 EPS. Nike’s quarterly revenue was up 4.6% compared to the same quarter last year. research analysts anticipate that Nike Inc will post 2.28 earnings per share for the current fiscal year.

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 given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. This is an increase from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio is 34.04%.

Several analysts have weighed in on NKE shares. Morgan Stanley reissued a “buy” rating and set a $64.00 price objective (down from $68.00) on shares of Nike in a report on Tuesday, August 29th. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price objective for the company in a report on Wednesday, September 6th. Telsey Advisory Group decreased their target price on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Argus upgraded Nike from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.35 to $64.46 in a research report on Thursday, December 14th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $55.00 target price (down from $56.00) on shares of Nike in a research report on Tuesday, September 19th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-one have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $62.75.

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Nike Profile

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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