NIKE, Inc. $NKE Position Increased by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp increased its position in NIKE by 16.1% in Q4 to 857,668 shares, worth about $54.65 million.
• Company insiders have been buying recently: CEO Elliott Hill purchased 23,660 shares at about $42.27 and Director John W. Rogers Jr. bought 4,000 shares, with insiders acquiring 64,441 shares over the past 90 days.
• NIKE pays a quarterly dividend of $0.41 (annualized yield ~3.6%) but has a payout ratio of 108.61%; the stock trades near $45 and carries a MarketBeat consensus rating of "Hold" with a $62.34 target.

Mitsubishi UFJ Trust & Banking Corp grew its position in NIKE, Inc. (NYSE:NKE - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 857,668 shares of the footwear maker's stock after buying an additional 119,240 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of NIKE worth $54,648,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NKE. Mizuho Markets Cayman LP acquired a new stake in NIKE during the 3rd quarter worth about $34,200,000. Strive Asset Management LLC acquired a new position in shares of NIKE in the 3rd quarter valued at about $1,743,000. Park National Corp OH lifted its position in shares of NIKE by 81.5% in the fourth quarter. Park National Corp OH now owns 431,055 shares of the footwear maker's stock worth $27,463,000 after purchasing an additional 193,514 shares in the last quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD lifted its position in shares of NIKE by 106.1% in the third quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 205,082 shares of the footwear maker's stock worth $14,343,000 after purchasing an additional 105,569 shares in the last quarter. Finally, Aberdeen Group plc boosted its holdings in shares of NIKE by 3.9% during the fourth quarter. Aberdeen Group plc now owns 1,914,243 shares of the footwear maker's stock worth $121,956,000 after purchasing an additional 72,681 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. purchased 4,000 shares of NIKE stock in a transaction on Thursday, April 9th. The stock was bought at an average price of $43.34 per share, with a total value of $173,360.00. Following the completion of the transaction, the director directly owned 41,022 shares of the company's stock, valued at approximately $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Elliott Hill purchased 23,660 shares of the firm's stock in a transaction dated Monday, April 13th. The shares were bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the purchase, the chief executive officer owned 265,247 shares in the company, valued at $11,211,990.69. This represents a 9.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 64,441 shares of company stock valued at $2,734,204. Corporate insiders own 0.80% of the company's stock.

NIKE Price Performance

NYSE NKE opened at $45.01 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $66.65 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.39 and a beta of 1.31. NIKE, Inc. has a 12-month low of $42.09 and a 12-month high of $80.17. The company has a 50 day moving average price of $52.24 and a two-hundred day moving average price of $59.97.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. NIKE's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 EPS. As a group, equities analysts predict that NIKE, Inc. will post 1.52 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, March 2nd. NIKE's dividend payout ratio is presently 108.61%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research analyst reports. Williams Trading lowered their price objective on shares of NIKE from $80.00 to $57.00 and set a "buy" rating on the stock in a research report on Wednesday, April 1st. Truist Financial cut their target price on shares of NIKE from $69.00 to $57.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Weiss Ratings lowered shares of NIKE from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, April 6th. Barclays lowered their price target on shares of NIKE from $73.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, April 1st. Finally, Wells Fargo & Company cut their price objective on NIKE from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, April 1st. Seventeen equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $62.34.

NIKE Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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