NIKE, Inc. (NYSE:NKE) Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. grew its stake in NIKE, Inc. (NYSE:NKE) by 64,229.2% during the fourth quarter, HoldingsChannel reports. The firm owned 651,012 shares of the footwear maker’s stock after purchasing an additional 650,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in NIKE were worth $49,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Garrison Point Advisors LLC lifted its holdings in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC lifted its holdings in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC lifted its holdings in NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares during the last quarter. Meridian Financial Partners LLC lifted its holdings in NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after purchasing an additional 133 shares during the last quarter. Finally, Frisch Financial Group Inc. lifted its holdings in NIKE by 4.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $71.75 on Friday. The business’s fifty day simple moving average is $75.45 and its 200 day simple moving average is $78.10. The firm has a market capitalization of $106.13 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on NKE shares. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Truist Financial dropped their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Morgan Stanley dropped their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Bank of America dropped their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, TD Cowen dropped their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

About NIKE

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.