NIKE, Inc. (NYSE:NKE) Holdings Raised by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC grew its position in NIKE, Inc. (NYSE:NKE) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,535 shares of the footwear maker’s stock after acquiring an additional 488 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in NIKE were worth $710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in NIKE during the 4th quarter valued at approximately $4,404,000. Norges Bank acquired a new position in NIKE during the 4th quarter valued at approximately $1,315,097,000. Manchester Capital Management LLC boosted its position in NIKE by 2.7% during the 4th quarter. Manchester Capital Management LLC now owns 13,171 shares of the footwear maker’s stock valued at $1,430,000 after purchasing an additional 349 shares during the period. Sheaff Brock Investment Advisors LLC boosted its position in NIKE by 4.5% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 15,015 shares of the footwear maker’s stock valued at $1,630,000 after purchasing an additional 651 shares during the period. Finally, W.G. Shaheen & Associates DBA Whitney & Co boosted its position in NIKE by 1.1% during the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 71,864 shares of the footwear maker’s stock valued at $7,802,000 after purchasing an additional 812 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 in the last quarter. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup reduced their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. StockNews.com upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday. HSBC reduced their price target on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Truist Financial reiterated a “hold” rating and set a $111.00 price target on shares of NIKE in a research report on Tuesday, March 19th. Finally, Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $113.00 in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Trading Up 0.4 %

Shares of NYSE:NKE traded up $0.41 during midday trading on Friday, reaching $92.18. The company had a trading volume of 12,019,568 shares, compared to its average volume of 7,993,296. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $123.39. The firm has a market cap of $139.13 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company has a fifty day simple moving average of $94.00 and a two-hundred day simple moving average of $102.37.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. Research analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. NIKE’s dividend payout ratio (DPR) is 43.53%.

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.