NIKE, Inc. (NYSE:NKE) Shares Purchased by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC increased its position in shares of NIKE, Inc. (NYSE:NKEFree Report) by 8.1% during the 4th quarter, according to the company in 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.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oliver Luxxe Assets LLC lifted its position in NIKE by 2.9% in the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after buying an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in NIKE in the fourth quarter valued at about $8,034,000. Financial Gravity Asset Management Inc. lifted its position in NIKE by 2,332.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after buying an additional 176,476 shares during the last quarter. Brown Advisory Inc. lifted its position in NIKE by 4.3% in the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after buying an additional 192,752 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in NIKE by 10,184.3% in the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after buying an additional 384,357 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NKE shares. Bank of America upgraded shares of 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 note on Thursday, April 11th. Truist Financial reiterated a “hold” rating and set a $111.00 price target on shares of NIKE in a research note on Tuesday, March 19th. Barclays cut their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Stifel Nicolaus cut their price target on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Evercore ISI cut their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.26.

View Our Latest Analysis on NKE

NIKE Stock Performance

Shares of NKE stock traded up $0.41 during trading hours on Friday, hitting $92.18. The stock had a trading volume of 12,019,568 shares, compared to its average volume of 7,993,296. The firm has a market capitalization of $139.13 billion, a PE ratio of 27.11, a PEG ratio of 1.78 and a beta of 1.07. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $123.39. The stock’s 50 day moving average is $94.00 and its 200 day moving average is $102.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKEGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, research analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s payout ratio is currently 43.53%.

Insider Activity

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 transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is currently owned by company insiders.

NIKE Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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