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 (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.
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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