Mitchell & Pahl Private Wealth LLC Grows Holdings in NIKE, Inc. (NYSE:NKE)

Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 19.6% during the 1st quarter, HoldingsChannel reports. The firm owned 20,179 shares of the footwear maker’s stock after purchasing an additional 3,308 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in NIKE were worth $1,281,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of NIKE by 32.4% during 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 buying an additional 8,898,591 shares during the period. Geode Capital Management LLC lifted its position 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 worth $1,915,110,000 after acquiring an additional 347,178 shares during the period. Capital World Investors lifted its position in NIKE by 10.3% during 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 period. Bank of New York Mellon Corp increased its holdings in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Norges Bank purchased a new stake in shares of NIKE during the fourth quarter worth approximately $1,126,288,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Needham & Company LLC dropped their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Williams Trading reduced their price objective on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Citigroup cut their target price on NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Finally, Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.26.

NIKE Stock Performance

NIKE stock opened at $60.52 on Monday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The company has a market capitalization of $89.52 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.52 and a beta of 1.23. The stock has a fifty day moving average of $59.08 and a two-hundred day moving average of $69.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. NIKE’s dividend payout ratio is currently 53.16%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

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.