Mirae Asset Global Investments Co. Ltd. Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Mirae Asset Global Investments Co. Ltd. grew its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,000 shares of the footwear maker's stock after purchasing an additional 11,968 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in NIKE were worth $13,608,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after acquiring an additional 347,178 shares during the period. Capital World Investors increased its stake in shares of NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares during the period. Norges Bank purchased a new position in NIKE during the fourth quarter worth about $1,126,288,000. Finally, Northern Trust Corp lifted its position in NIKE by 8.8% in the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock valued at $1,111,625,000 after purchasing an additional 1,183,641 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NKE shares. China Renaissance initiated coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating on the stock. Cfra Research raised NIKE to a "moderate buy" rating in a report on Friday, March 21st. Stifel Nicolaus cut their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Piper Sandler boosted their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus price target of $77.00.

NIKE Price Performance

NYSE:NKE opened at $72.09 on Monday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The firm has a market cap of $106.63 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 2.73 and a beta of 1.21. The company's 50-day moving average is $60.63 and its two-hundred day moving average is $67.44. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The company's quarterly revenue was down 11.9% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

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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