Elo Mutual Pension Insurance Co Acquires 57,979 Shares of NIKE, Inc. $NKE

Elo Mutual Pension Insurance Co increased its stake in NIKE, Inc. (NYSE:NKE) by 57.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,705 shares of the footwear maker’s stock after buying an additional 57,979 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in NIKE were worth $11,274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in NIKE by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock valued at $1,007,000 after buying an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its position in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after acquiring an additional 142 shares during the period. Salomon & Ludwin LLC lifted its holdings in shares of NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after acquiring an additional 145 shares during the period. Westmount Partners LLC raised its stake in NIKE by 2.9% during the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after acquiring an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of NIKE by 0.3% during the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after buying an additional 147 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 1.2%

NIKE stock opened at $62.02 on Tuesday. The firm has a market capitalization of $91.68 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $67.14 and a 200 day simple moving average of $69.01.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.41 per share. The ex-dividend date is Monday, December 1st. This is a boost from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.6%. NIKE’s dividend payout ratio (DPR) is presently 84.10%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the transaction, the chairman directly owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This trade represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent research reports. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and upped their price objective for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Piper Sandler set a $84.00 price target on shares of NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research note on Monday, September 29th. The Goldman Sachs Group set a $85.00 target price on NIKE and gave the stock a “buy” rating in a research report on Thursday, September 25th. Finally, Wells Fargo & Company upgraded NIKE from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $75.00 in a research report on Thursday, November 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.24.

NIKE 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.