Mattson Financial Services LLC Purchases New Position in NIKE, Inc. (NYSE:NKE)

Mattson Financial Services LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 11,771 shares of the footwear maker’s stock, valued at approximately $887,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $33,000. Core Wealth Advisors Inc. lifted its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Down 1.2 %

Shares of NYSE:NKE opened at $82.11 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $123.93 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock’s fifty day simple moving average is $80.71 and its 200-day simple moving average is $86.36.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 3.04 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Analysts Set New Price Targets

Several research analysts have commented on NKE shares. Citigroup cut their price target on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Evercore ISI cut their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Robert W. Baird lifted their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and increased their target price for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $96.04.

NIKE Company 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.