Independence Bank of Kentucky Acquires 588 Shares of NIKE, Inc. (NYSE:NKE)

Independence Bank of Kentucky lifted its holdings in NIKE, Inc. (NYSE:NKEFree Report) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,858 shares of the footwear maker’s stock after purchasing an additional 588 shares during the period. Independence Bank of Kentucky’s holdings in NIKE were worth $1,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Impact Partnership Wealth LLC lifted its holdings in NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after buying an additional 181 shares during the period. Iron Horse Wealth Management LLC lifted its stake in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new stake in NIKE during the fourth quarter valued at about $29,000. Financial Freedom LLC purchased a new position in NIKE in the fourth quarter valued at about $29,000. Finally, Worth Asset Management LLC bought a new position in NIKE in the first quarter worth about $32,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NKE. Raymond James raised their price target on shares of NIKE from $121.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, December 19th. Bank of America cut their price target on shares of NIKE from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of NIKE in a report on Wednesday, March 27th. Piper Sandler dropped their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Finally, Evercore ISI decreased their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $116.52.

View Our Latest Research Report on NKE

NIKE Price Performance

Shares of NYSE NKE opened at $90.33 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock has a market capitalization of $137.47 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.70 and a beta of 1.08. The firm’s 50 day simple moving average is $100.64 and its 200-day simple moving average is $103.48. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68.

NIKE (NYSE:NKEGet Free Report) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Analysts expect that NIKE, Inc. will post 3.71 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.64%. NIKE’s payout ratio is 43.53%.

NIKE Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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