Mattern Capital Management LLC Buys 6,159 Shares of NIKE, Inc. (NYSE:NKE)

Mattern Capital Management LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,992 shares of the footwear maker’s stock after purchasing an additional 6,159 shares during the quarter. Mattern Capital Management LLC’s holdings in NIKE were worth $8,044,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares during the last quarter. Legal & General Group Plc boosted its stake in NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares during the last quarter. Jennison Associates LLC boosted its stake in NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in NIKE by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after acquiring an additional 52,500 shares during the last quarter. Finally, Longview Partners Guernsey LTD bought a new position in NIKE in the first quarter valued at approximately $533,533,000. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

NIKE Stock Performance

Shares of NKE opened at $78.85 on Friday. The company has a market cap of $118.22 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a 50-day moving average of $82.71 and a 200-day moving average of $84.94. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, equities analysts forecast that NIKE, Inc. will post 2.78 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 42.41%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NKE shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Guggenheim cut their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Sanford C. Bernstein cut their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Finally, Wells Fargo & Company increased their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

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.