NIKE, Inc. (NYSE:NKE) Shares Acquired by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 29.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,646 shares of the footwear maker’s stock after purchasing an additional 50,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in NIKE were worth $16,545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of NKE. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter worth approximately $28,000. Caitlin John LLC lifted 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 worth $28,000 after buying an additional 200 shares in the last quarter. Roxbury Financial LLC acquired a new position in NIKE during the fourth quarter worth about $30,000. LFA Lugano Financial Advisors SA grew its stake in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in NIKE during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale 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 Price Performance

Shares of NKE opened at $57.17 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a fifty-two week low of $52.50 and a fifty-two week high of $98.04. The company has a market cap of $84.57 billion, a P/E ratio of 17.65, a PEG ratio of 2.52 and a beta of 1.02. The firm’s 50 day moving average price is $72.96 and its 200 day moving average price is $76.33.

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

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NKE. Wells Fargo & Company lowered their target price on NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Robert W. Baird cut their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Morgan Stanley dropped their price objective on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Finally, Telsey Advisory Group restated a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research report on Monday, March 17th. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $87.38.

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.