Mengis Capital Management Inc. Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Mengis Capital Management Inc. lowered its position in shares of NIKE, Inc. (NYSE:NKEFree Report) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,208 shares of the footwear maker’s stock after selling 200 shares during the quarter. Mengis Capital Management Inc.’s holdings in NIKE were worth $1,072,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NKE. BCK Partners Inc. acquired a new stake in shares of NIKE in the first quarter valued at approximately $2,839,000. Loomis Sayles & Co. L P increased its holdings in shares of NIKE by 138.2% in the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock valued at $1,511,000 after purchasing an additional 6,518 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of NIKE by 13.3% in the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock valued at $214,000 after purchasing an additional 186 shares during the last quarter. Bridgewater Associates LP acquired a new stake in shares of NIKE in the first quarter valued at approximately $278,000. Finally, Federated Hermes Inc. increased its holdings in shares of NIKE by 9.8% in the first quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock valued at $58,392,000 after purchasing an additional 38,903 shares during the last quarter. Institutional investors and hedge funds own 63.42% of the company’s stock.

NIKE Stock Performance

Shares of NKE traded up $2.68 during midday trading on Monday, reaching $107.18. 7,493,994 shares of the stock were exchanged, compared to its average volume of 8,801,583. The business’s 50-day moving average price is $108.07 and its 200 day moving average price is $104.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.85. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The company has a market capitalization of $163.12 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 1.94 and a beta of 1.11.

NIKE (NYSE:NKEGet Free Report) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.19. NIKE had a return on equity of 37.41% and a net margin of 10.28%. The company had revenue of $13.40 billion for the quarter, compared to analyst estimates of $13.39 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 3.57 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, March 1st. NIKE’s dividend payout ratio is presently 43.27%.

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 10,000 shares of NIKE stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $119.00, for a total transaction of $1,190,000.00. Following the completion of the transaction, the executive vice president now directly owns 44,736 shares in the company, valued at approximately $5,323,584. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NKE. TD Cowen reiterated a “market perform” rating and issued a $104.00 price objective (down from $129.00) on shares of NIKE in a research report on Friday, December 22nd. BMO Capital Markets increased their price objective on NIKE from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Truist Financial increased their price objective on NIKE from $107.00 to $111.00 and gave the stock a “hold” rating in a research report on Thursday, December 28th. Stifel Nicolaus lowered their price objective on NIKE from $135.00 to $129.00 and set a “buy” rating for the company in a research report on Friday, December 22nd. Finally, Royal Bank of Canada raised their price target on NIKE from $120.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.62.

Read Our Latest Research Report on NKE

NIKE Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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