Independence Bank of Kentucky Has $252,000 Position in NIKE, Inc. (NYSE:NKE)

Independence Bank of Kentucky decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 13.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,329 shares of the footwear maker’s stock after selling 530 shares during the quarter. Independence Bank of Kentucky’s holdings in NIKE were worth $252,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NKE. Pacer Advisors Inc. lifted its stake in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after buying an additional 6,709,985 shares during the period. Loomis Sayles & Co. L P raised its position in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after acquiring an additional 6,507,856 shares during the period. Assenagon Asset Management S.A. boosted its stake in NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after acquiring an additional 2,357,745 shares during the last quarter. State Street Corp grew its holdings in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Finally, Holocene Advisors LP bought a new stake in NIKE in the third quarter valued at approximately $148,635,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Down 1.9 %

NKE opened at $76.82 on Friday. The stock has a fifty day moving average of $75.60 and a 200-day moving average of $77.99. The company has a market capitalization of $113.62 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.44 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 EPS. On average, equities analysts expect that NIKE, Inc. will post 2.09 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research report on Friday, December 20th. TD Cowen lowered their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Morgan Stanley cut their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Stifel Nicolaus lowered their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Finally, Bank of America cut their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Company 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.