Mitchell & Pahl Private Wealth LLC Acquires 3,207 Shares of NIKE, Inc. (NYSE:NKE)

Mitchell & Pahl Private Wealth LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 23.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,871 shares of the footwear maker’s stock after acquiring an additional 3,207 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in NIKE were worth $1,277,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NKE. State Street Corp grew its position in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP lifted its stake in NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after buying an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after buying an additional 251,411 shares during the period. Legal & General Group Plc increased its position in shares of NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after acquiring an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after acquiring an additional 583,207 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research reports. Royal Bank of Canada lowered their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Robert W. Baird dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. JPMorgan Chase & Co. cut their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. TD Cowen decreased their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Finally, Wells Fargo & Company cut their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $70.89 on Tuesday. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The company has a 50-day simple moving average of $75.77 and a 200 day simple moving average of $77.95. 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 company has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.25 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

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.