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

MV Capital Management Inc. raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,930 shares of the footwear maker’s stock after acquiring an additional 316 shares during the quarter. MV Capital Management Inc.’s holdings in NIKE were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Allianz SE bought a new stake in shares of NIKE during the 4th quarter valued at $9,998,000. WealthTrak Capital Management LLC bought a new stake in shares of NIKE during the fourth quarter valued at about $48,000. Intrust Bank NA lifted its holdings in shares of NIKE by 12.1% in the fourth quarter. Intrust Bank NA now owns 4,865 shares of the footwear maker’s stock worth $368,000 after buying an additional 525 shares in the last quarter. Allstate Corp bought a new position in shares of NIKE in the fourth quarter valued at approximately $2,672,000. Finally, DnB Asset Management AS grew its stake in NIKE by 1.0% during the fourth quarter. DnB Asset Management AS now owns 313,694 shares of the footwear maker’s stock valued at $23,737,000 after acquiring an additional 3,046 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction 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 in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 3.8 %

NYSE:NKE opened at $63.32 on Friday. The firm has a market capitalization of $93.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 52 week low of $63.14 and a 52 week high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $74.16 and a 200 day moving average of $76.94.

NIKE (NYSE:NKE) last posted its earnings results 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 company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. On average, 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. Stockholders of record on Monday, March 3rd will be given 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 dividend yield of 2.53%. NIKE’s dividend payout ratio is currently 53.16%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BMO Capital Markets lowered their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Morgan Stanley lowered their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Evercore ISI cut their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $87.38.

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.