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

Mirae Asset Global Investments Co. Ltd. increased its stake in NIKE, Inc. (NYSE:NKE) by 84.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 398,227 shares of the footwear maker’s stock after purchasing an additional 182,084 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NIKE were worth $27,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in shares of NIKE by 1.0% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after buying an additional 134 shares during the period. Main Street Financial Solutions LLC boosted its holdings in NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after acquiring an additional 139 shares during the period. St. Clair Advisors LLC grew its position in shares of NIKE by 0.9% in the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock valued at $1,061,000 after purchasing an additional 140 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of NIKE by 10.1% in the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after purchasing an additional 145 shares during the period. Finally, HB Wealth Management LLC lifted its position in shares of 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 purchasing an additional 147 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. Citigroup reaffirmed a “neutral” rating and issued a $65.00 price target (down from $70.00) on shares of NIKE in a research report on Friday, December 19th. UBS Group reiterated a “neutral” rating on shares of NIKE in a research note on Monday, January 5th. Piper Sandler set a $75.00 price target on shares of NIKE and gave the stock an “overweight” rating in a research report on Friday, December 19th. Jefferies Financial Group restated a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Monday, January 12th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of NIKE in a research note on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.65.

Insider Buying and Selling at NIKE

In other news, Director Timothy D. Cook purchased 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average price of $58.97 per share, for a total transaction of $2,948,500.00. Following the completion of the acquisition, the director directly owned 105,480 shares in the company, valued at approximately $6,220,155.60. The trade was a 90.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the sale, the chairman directly owned 647,615 shares of the company’s stock, valued at $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 acquired a total of 91,229 shares of company stock valued at $5,452,640 over the last ninety days. Company insiders own 0.80% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $62.59 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The firm has a market capitalization of $92.66 billion, a P/E ratio of 36.82, a P/E/G ratio of 3.24 and a beta of 1.28. The stock has a fifty day moving average price of $63.98 and a two-hundred day moving average price of $68.77. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (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 for the quarter, compared to the consensus estimate of $12.19 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, December 1st. 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%. NIKE’s dividend payout ratio is presently 96.47%.

NIKE 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).