First Financial Corp IN Decreases Stake in NIKE, Inc. (NYSE:NKE)

First Financial Corp IN lessened its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 65.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,758 shares of the footwear maker's stock after selling 7,078 shares during the quarter. First Financial Corp IN's holdings in NIKE were worth $239,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC grew its holdings in NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after buying an additional 347,178 shares in the last quarter. Capital World Investors increased its stake in NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Finally, Norges Bank bought a new position in shares of NIKE during the 4th quarter valued at approximately $1,126,288,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 0.7%

Shares of NYSE:NKE traded up $0.43 during trading hours on Wednesday, hitting $62.80. The company's stock had a trading volume of 10,230,598 shares, compared to its average volume of 15,020,440. The firm's fifty day moving average price is $58.93 and its 200 day moving average price is $69.43. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The company has a market capitalization of $92.89 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is currently 53.16%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NKE. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Bank of America dropped their price target on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Truist Financial reduced their price objective on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Berenberg Bank assumed coverage on NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective for the company. Finally, Williams Trading cut their target price on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $80.26.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

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.