MV Capital Management Inc. Purchases 316 Shares of NIKE, Inc. (NYSE:NKE)

MV Capital Management Inc. boosted its position in NIKE, Inc. (NYSE:NKE) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,930 shares of the footwear maker’s stock after purchasing an additional 316 shares during the quarter. MV Capital Management Inc.’s holdings in NIKE were worth $449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NKE. Range Financial Group LLC purchased a new position in NIKE during the 4th quarter valued at about $642,000. Cacti Asset Management LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in shares of NIKE in the 4th quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. increased its position in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after buying an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 3.8 %

NYSE:NKE opened at $63.32 on Friday. NIKE, Inc. has a one year low of $63.14 and a one year high of $98.04. The business has a fifty day moving average price of $74.16 and a 200-day moving average price of $76.94. The firm has a market capitalization of $93.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is 53.16%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NKE. Truist Financial cut their target price on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Evercore ISI decreased their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Wells Fargo & Company dropped their target price on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Bank of America decreased their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and cut their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Fifteen 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.com, NIKE currently has an average 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.