Midwest Professional Planners LTD. Acquires 4,709 Shares of NIKE, Inc. (NYSE:NKE)

Midwest Professional Planners LTD. boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 32.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,323 shares of the footwear maker’s stock after purchasing an additional 4,709 shares during the quarter. Midwest Professional Planners LTD.’s holdings in NIKE were worth $1,462,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC lifted its position in shares of NIKE by 2.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 6,355 shares of the footwear maker’s stock worth $562,000 after acquiring an additional 163 shares during the period. Harbour Investments Inc. raised its holdings in shares of NIKE by 6.6% in the 3rd quarter. Harbour Investments Inc. now owns 5,749 shares of the footwear maker’s stock worth $508,000 after buying an additional 357 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of NIKE by 5.2% in the 3rd quarter. Victory Capital Management Inc. now owns 748,386 shares of the footwear maker’s stock worth $66,157,000 after buying an additional 37,035 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of NIKE by 14.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 75,769 shares of the footwear maker’s stock worth $6,698,000 after buying an additional 9,415 shares in the last quarter. Finally, Kovack Advisors Inc. acquired a new position in shares of NIKE in the 3rd quarter worth approximately $612,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NKE shares. Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. UBS Group reaffirmed a “neutral” rating and set a $73.00 price target on shares of NIKE in a report on Thursday, December 26th. Robert W. Baird dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and raised their price target for the company from $75.00 to $115.00 in a report on Monday, February 24th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.69.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was purchased 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 owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Stock Down 1.3 %

NYSE:NKE opened at $72.61 on Friday. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $102.49. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $107.40 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.52 and a beta of 1.02. The stock’s fifty day simple moving average is $74.71 and its 200-day simple moving average is $77.95.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. NIKE’s payout ratio is 49.38%.

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.