Indiana Trust & Investment Management CO Reduces Position in NIKE, Inc. (NYSE:NKE)
Indiana Trust & Investment Management CO cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,981 shares of the footwear maker’s stock after selling 1,584 shares during the quarter. NIKE makes up approximately 1.0% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 21st largest holding. Indiana Trust & Investment Management CO’s holdings in NIKE were worth $1,858,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc purchased a new stake in NIKE during the fourth quarter valued at about $25,000. Tsfg LLC increased its position in shares of NIKE by 583.3% during the fourth quarter. Tsfg LLC now owns 205 shares of the footwear maker’s stock valued at $29,000 after buying an additional 175 shares during the period. Addison Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at about $30,000. DB Wealth Management Group LLC bought a new stake in shares of NIKE during the fourth quarter valued at about $30,000. Finally, Joseph P. Lucia & Associates LLC bought a new stake in shares of NIKE during the fourth quarter valued at about $32,000. 64.20% of the stock is currently owned by institutional investors and hedge funds.
NKE stock traded down $1.05 on Thursday, reaching $135.49. The company’s stock had a trading volume of 200,797 shares, compared to its average volume of 6,261,050. The business has a fifty day simple moving average of $136.90 and a two-hundred day simple moving average of $135.02. NIKE, Inc. has a 12-month low of $83.61 and a 12-month high of $147.95. The firm has a market cap of $213.60 billion, a PE ratio of 78.02, a PEG ratio of 2.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.97 and a current ratio of 2.66.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 1st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, February 26th. NIKE’s payout ratio is 59.46%.
Several equities research analysts have recently weighed in on the company. Pivotal Research upped their price target on NIKE from $160.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, March 16th. Credit Suisse Group upped their price target on NIKE from $162.00 to $176.00 and gave the company an “outperform” rating in a research report on Thursday, March 25th. Raymond James upped their price objective on shares of NIKE from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, December 21st. HSBC upped their price objective on shares of NIKE from $158.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. Finally, Williams Financial Group started coverage on shares of NIKE in a research report on Friday, January 22nd. They issued a “buy” rating and a $175.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirty-one have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $159.89.
In related news, Chairman Mark G. Parker sold 114,094 shares of the firm’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $130.67, for a total value of $14,908,662.98. Following the completion of the sale, the chairman now owns 1,537,729 shares of the company’s stock, valued at $200,935,048.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.80% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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