Mitchell & Pahl Private Wealth LLC Has $1.28 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Mitchell & Pahl Private Wealth LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,871 shares of the footwear maker’s stock after buying an additional 3,207 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in NIKE were worth $1,277,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Loomis Sayles & Co. L P raised its stake in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after purchasing an additional 2,357,745 shares during the period. State Street Corp raised its position in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of NIKE in the third quarter valued at about $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in NIKE during the third quarter worth about $144,927,000. 64.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.3 %

Shares of NYSE NKE opened at $70.89 on Tuesday. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The firm’s 50-day moving average is $75.77 and its 200-day moving average is $77.95. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $104.85 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. Equities analysts expect that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

Several research firms have commented on NKE. Truist Financial cut their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group reaffirmed a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Morgan Stanley decreased their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. TD Cowen reduced their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

NIKE 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.