Michels Family Financial LLC Makes New $548,000 Investment in NIKE, Inc. $NKE

Michels Family Financial LLC purchased a new position in NIKE, Inc. (NYSE:NKE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,857 shares of the footwear maker’s stock, valued at approximately $548,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares during the period. Caxton Associates LLP bought a new stake in NIKE during the 1st quarter valued at approximately $311,000. United Bank lifted its holdings in NIKE by 11.3% in the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after purchasing an additional 1,736 shares in the last quarter. Freedom Investment Management Inc. bought a new position in NIKE in the 2nd quarter worth approximately $262,000. Finally, Bleakley Financial Group LLC boosted its stake in NIKE by 9.0% in the 2nd quarter. Bleakley Financial Group LLC now owns 13,245 shares of the footwear maker’s stock worth $941,000 after purchasing an additional 1,095 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In other news, CEO Elliott Hill bought 16,388 shares of NIKE stock in a transaction dated Monday, December 29th. The shares were acquired at an average price of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the purchase, the chief executive officer owned 241,587 shares in the company, valued at $14,760,965.70. The trade was a 7.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy D. Cook bought 50,000 shares of the stock in a transaction dated Monday, December 22nd. The stock was purchased at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the acquisition, the director directly owned 105,480 shares in the company, valued at approximately $6,220,155.60. The trade was a 90.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 75,079 shares of company stock worth $4,449,887. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NKE. Robert W. Baird reduced their price objective on shares of NIKE from $93.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, December 19th. Piper Sandler set a $75.00 target price on shares of NIKE and gave the company an “overweight” rating in a research note on Friday, December 19th. Stifel Nicolaus set a $65.00 price target on shares of NIKE and gave the stock a “hold” rating in a research note on Friday, December 19th. Truist Financial set a $69.00 price objective on NIKE in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company set a $65.00 target price on NIKE and gave the stock an “overweight” rating in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.61.

NIKE Stock Down 0.2%

Shares of NYSE NKE opened at $65.47 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The firm’s 50-day moving average price is $63.47 and its 200-day moving average price is $67.43. The stock has a market capitalization of $96.92 billion, a price-to-earnings ratio of 38.51, a P/E/G ratio of 3.35 and a beta of 1.27.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. NIKE’s payout ratio is currently 96.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).