NIKE, Inc. (NYSE:NKE) Shares Purchased by German American Bancorp Inc.

German American Bancorp Inc. lifted its stake in NIKE, Inc. (NYSE:NKE) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,969 shares of the footwear maker’s stock after acquiring an additional 2,195 shares during the period. NIKE accounts for approximately 1.5% of German American Bancorp Inc.’s holdings, making the stock its 16th biggest position. German American Bancorp Inc.’s holdings in NIKE were worth $9,435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mcdonald Partners LLC increased its holdings in NIKE by 0.7% during the 3rd quarter. Mcdonald Partners LLC now owns 8,989 shares of the footwear maker’s stock worth $1,305,000 after purchasing an additional 61 shares during the period. Grove Bank & Trust lifted its position in NIKE by 0.4% during the 3rd quarter. Grove Bank & Trust now owns 15,314 shares of the footwear maker’s stock worth $2,224,000 after acquiring an additional 64 shares during the period. IRON Financial LLC lifted its position in NIKE by 4.0% during the 3rd quarter. IRON Financial LLC now owns 1,674 shares of the footwear maker’s stock worth $243,000 after acquiring an additional 64 shares during the period. Baxter Bros Inc. raised its stake in shares of NIKE by 1.2% during the 2nd quarter. Baxter Bros Inc. now owns 5,572 shares of the footwear maker’s stock valued at $861,000 after buying an additional 65 shares during the last quarter. Finally, Wealth Dimensions Group Ltd. raised its stake in shares of NIKE by 3.7% during the 2nd quarter. Wealth Dimensions Group Ltd. now owns 1,872 shares of the footwear maker’s stock valued at $289,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 64.17% of the company’s stock.

Shares of NKE traded down $2.05 during mid-day trading on Friday, reaching $147.54. The company had a trading volume of 108,536 shares, compared to its average volume of 6,218,275. The stock has a market cap of $233.53 billion, a price-to-earnings ratio of 39.16, a price-to-earnings-growth ratio of 2.80 and a beta of 0.92. The firm has a fifty day simple moving average of $166.59 and a 200-day simple moving average of $163.39. NIKE, Inc. has a fifty-two week low of $125.44 and a fifty-two week high of $179.10. The company has a current ratio of 3.07, a quick ratio of 2.33 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last released its quarterly earnings results on Monday, December 20th. The footwear maker reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.20. The firm had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.25 billion. NIKE had a net margin of 13.32% and a return on equity of 45.73%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. As a group, equities analysts predict that NIKE, Inc. will post 3.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 28th. Stockholders of record on Monday, December 6th were issued a dividend of $0.305 per share. The ex-dividend date was Friday, December 3rd. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.83%. This is a positive change from NIKE’s previous quarterly dividend of $0.28. NIKE’s payout ratio is currently 31.94%.

Several equities research analysts recently issued reports on NKE shares. Bank of America lowered their price objective on NIKE from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, September 24th. Truist Securities assumed coverage on NIKE in a report on Thursday, December 16th. They issued a “buy” rating and a $190.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on NIKE from $166.00 to $199.00 and gave the company a “buy” rating in a research report on Tuesday, December 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $213.00 price objective on shares of NIKE in a research report on Friday, September 17th. Finally, HSBC lowered NIKE from a “buy” rating to a “hold” rating and cut their price objective for the stock from $184.00 to $182.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, NIKE presently has an average rating of “Buy” and an average target price of $180.45.

In other news, CAO Hilary K. Krane sold 10,750 shares of the firm’s stock in a transaction dated Monday, November 15th. The shares were sold at an average price of $169.70, for a total value of $1,824,275.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heidi O’neill sold 12,089 shares of NIKE stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $170.00, for a total transaction of $2,055,130.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 149,376 shares of company stock worth $24,927,397. Company insiders own 3.70% of the company’s stock.

About NIKE

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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