Migdal Insurance & Financial Holdings Ltd. Boosts Stake in NIKE, Inc. $NKE

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 22,134.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 225,014 shares of the footwear maker’s stock after buying an additional 224,002 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in NIKE were worth $16,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP raised its position in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. raised its position in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the period. Bank of New York Mellon Corp raised its position in NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after purchasing an additional 620,214 shares during the period. Finally, Flossbach Von Storch SE raised its position in NIKE by 24.0% in the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after purchasing an additional 1,988,547 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on NKE. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Piper Sandler set a $84.00 price target on shares of NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 price target on shares of NIKE in a report on Wednesday, October 1st. Finally, Truist Financial reissued a “buy” rating and issued a $85.00 price target on shares of NIKE in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Activity at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by corporate insiders.

NIKE Price Performance

Shares of NIKE stock opened at $67.40 on Wednesday. The company’s fifty day simple moving average is $72.01 and its two-hundred day simple moving average is $68.10. The firm has a market cap of $99.63 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 2.53 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the company earned $0.70 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. NIKE’s dividend payout ratio is currently 82.05%.

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.