Mattern Capital Management LLC Raises Stock Position in NIKE, Inc. $NKE

Key Points

• Mattern Capital Management LLC has increased its stake in NIKE, Inc. by 6.3%, now owning 116,178 shares valued at approximately $8.25 million.
• NIKE reported earnings of $0.49 per share, exceeding estimates, with revenue of $11.72 billion for the quarter, indicating a 1.0% year-over-year increase.
• The company announced a quarterly dividend of $0.40 per share, reflecting a 2.1% yield and a dividend payout ratio of 82.05%.

Mattern Capital Management LLC increased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 116,178 shares of the footwear maker's stock after acquiring an additional 6,924 shares during the quarter. Mattern Capital Management LLC's holdings in NIKE were worth $8,253,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NKE. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the first quarter worth $25,000. Halbert Hargrove Global Advisors LLC grew its holdings in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after buying an additional 362 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE during the first quarter worth $30,000. Matrix Trust Co grew its holdings in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of NIKE during the second quarter worth $35,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Trading Up 0.5%

Shares of NKE opened at $74.59 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.50 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The firm has a 50-day moving average price of $74.71 and a 200 day moving average price of $67.32. The firm has a market capitalization of $110.16 billion, a P/E ratio of 38.25, a P/E/G ratio of 2.79 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE's revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 82.05%.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research reports. Truist Financial reaffirmed a "buy" rating and set a $85.00 target price on shares of NIKE in a report on Wednesday. The Goldman Sachs Group set a $85.00 target price on shares of NIKE and gave the stock a "buy" rating in a report on Thursday, September 25th. Argus raised shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $75.00 target price on shares of NIKE in a report on Wednesday. Finally, Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $81.57.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.80% of the stock is currently owned by company 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.

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