Mystic Asset Management Inc. Takes Position in NIKE, Inc. (NYSE:NKE)

Mystic Asset Management Inc. bought a new stake in NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 7,730 shares of the footwear maker’s stock, valued at approximately $585,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Leelyn Smith LLC boosted its holdings in NIKE by 4.9% in the fourth quarter. Leelyn Smith LLC now owns 40,078 shares of the footwear maker’s stock worth $3,033,000 after acquiring an additional 1,886 shares in the last quarter. RD Lewis Holdings Inc. bought a new position in shares of NIKE in the 4th quarter worth $249,000. Haven Capital Group Inc. acquired a new stake in NIKE in the 4th quarter valued at $583,000. Axxcess Wealth Management LLC increased its stake in NIKE by 61.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 10,238 shares of the footwear maker’s stock valued at $775,000 after purchasing an additional 3,883 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in NIKE by 0.9% during the fourth quarter. Tocqueville Asset Management L.P. now owns 261,576 shares of the footwear maker’s stock worth $19,793,000 after buying an additional 2,301 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Stock Up 3.0 %

NKE stock opened at $73.78 on Tuesday. The stock has a fifty day moving average of $74.71 and a 200-day moving average of $77.71. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $101.92. The company has a market capitalization of $109.13 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.52 and a beta of 1.02. 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 issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business earned $1.03 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. NIKE’s dividend payout ratio is 49.38%.

Analysts Set New Price Targets

Several research firms have recently commented on NKE. Robert W. Baird decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. UBS Group reissued a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Guggenheim reiterated a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Fourteen equities 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. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $89.54.

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.