7,730 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Mystic Asset Management Inc.

Mystic Asset Management Inc. bought a new position in NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,730 shares of the footwear maker’s stock, valued at approximately $585,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP lifted its position in NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC lifted its position in NIKE by 1.0% during the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Bank of New York Mellon Corp grew its stake in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NKE shares. BMO Capital Markets lifted their price objective on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Barclays cut their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Guggenheim reissued a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. Finally, Morgan Stanley cut their target price on NIKE from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.54.

NIKE Price Performance

Shares of NKE stock opened at $73.78 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $101.92. The firm has a market cap of $109.13 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.52 and a beta of 1.02. The business’s 50 day moving average price is $74.71 and its 200-day moving average price is $77.71.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

NIKE Company 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.