First Merchants Corp Has $490,000 Stock Position in NIKE, Inc. (NYSE:NKE)

First Merchants Corp cut its holdings in NIKE, Inc. (NYSE:NKE) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 6,482 shares of the footwear maker’s stock after selling 422 shares during the quarter. First Merchants Corp’s holdings in NIKE were worth $490,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NKE. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE during the 3rd quarter worth approximately $30,000. Caitlin John LLC boosted its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the period. Heck Capital Advisors LLC acquired a new stake in NIKE during the fourth quarter worth approximately $28,000. Dunhill Financial LLC increased its stake in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the period. Finally, Riverview Trust Co acquired a new position in NIKE in the 3rd quarter valued at $52,000. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Guggenheim restated a “buy” rating and issued a $110.00 price target on shares of NIKE in a research report on Wednesday. Wells Fargo & Company decreased their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Truist Financial cut their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Bank of America decreased their price objective 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. Finally, Royal Bank of Canada cut their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

NIKE Stock Down 0.3 %

NIKE stock opened at $73.02 on Friday. The firm has a market cap of $108.00 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $107.34. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a 50 day moving average price of $74.58 and a two-hundred day moving average price of $78.00.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

About NIKE

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.