Mirabaud & Cie SA Buys 1,500 Shares of NIKE, Inc. $NKE

Mirabaud & Cie SA lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 12.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,480 shares of the footwear maker’s stock after purchasing an additional 1,500 shares during the period. Mirabaud & Cie SA’s holdings in NIKE were worth $958,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NKE. Brighton Jones LLC raised its stake in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after purchasing an additional 17,888 shares in the last quarter. Triumph Capital Management bought a new stake in shares of NIKE during the 4th quarter worth approximately $215,000. Quantinno Capital Management LP raised its stake in shares of NIKE by 21.2% during the 4th quarter. Quantinno Capital Management LP now owns 57,453 shares of the footwear maker’s stock worth $4,348,000 after purchasing an additional 10,031 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of NIKE by 11.9% during the 4th quarter. Rafferty Asset Management LLC now owns 110,688 shares of the footwear maker’s stock worth $8,376,000 after purchasing an additional 11,773 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NKE shares. Piper Sandler upped their price objective on NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, June 27th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday. Hsbc Global Res upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $70.00 price target on shares of NIKE in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.67.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE NKE opened at $73.12 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock’s fifty day moving average price is $75.40 and its two-hundred day moving average price is $67.63. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The firm has a market cap of $107.98 billion, a price-to-earnings ratio of 33.85, a P/E/G ratio of 2.65 and a beta of 1.24.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the firm posted $0.99 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 74.07%.

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.