Mirae Asset Global Investments Co. Ltd. Has $27.77 Million Holdings in NIKE, Inc. $NKE

Mirae Asset Global Investments Co. Ltd. raised its stake in NIKE, Inc. (NYSE:NKE) by 84.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 398,227 shares of the footwear maker’s stock after buying an additional 182,084 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in NIKE were worth $27,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Brighton Jones LLC increased its stake in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of NIKE in the 1st quarter valued at $311,000. Janney Montgomery Scott LLC raised its stake in NIKE by 10.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 154,890 shares of the footwear maker’s stock worth $11,003,000 after buying an additional 14,126 shares during the period. HB Wealth Management LLC raised its stake in NIKE by 0.3% during the 2nd 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 period. Finally, Union Bancaire Privee UBP SA lifted its holdings in NIKE by 158.6% during the second quarter. Union Bancaire Privee UBP SA now owns 750 shares of the footwear maker’s stock worth $53,000 after acquiring an additional 460 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $62.59 on Friday. The firm’s 50 day moving average is $63.98 and its 200-day moving average is $68.77. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $92.66 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.28. 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 Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.19 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a $0.41 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, December 1st. NIKE’s dividend payout ratio (DPR) is presently 96.47%.

Wall Street Analyst Weigh In

NKE has been the subject of several recent analyst reports. Daiwa Capital Markets lowered their price target on NIKE from $75.00 to $61.00 in a report on Tuesday, December 23rd. Wells Fargo & Company set a $65.00 target price on NIKE and gave the stock an “overweight” rating in a research note on Friday, December 19th. BTIG Research restated a “buy” rating and set a $100.00 target price on shares of NIKE in a report on Tuesday. Truist Financial set a $69.00 price target on shares of NIKE in a report on Wednesday, January 14th. Finally, BNP Paribas Exane dropped their price objective on shares of NIKE from $38.00 to $35.00 and set an “underperform” rating on the stock in a report on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $74.65.

Insider Buying and Selling at NIKE

In related news, CEO Elliott Hill bought 16,388 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the acquisition, the chief executive officer owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. The trade was a 7.28% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the transaction, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This represents a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have purchased a total of 91,229 shares of company stock valued at $5,452,640 in the last ninety days. Insiders own 0.80% of the company’s stock.

NIKE Company Profile

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).