Mesirow Financial Investment Management Inc. Purchases 79,254 Shares of NIKE, Inc. $NKE

Mesirow Financial Investment Management Inc. boosted its position in NIKE, Inc. (NYSE:NKEFree Report) by 257.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,062 shares of the footwear maker’s stock after acquiring an additional 79,254 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in NIKE were worth $7,012,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Pinnacle Associates Ltd. increased its stake in NIKE by 26.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 28,086 shares of the footwear maker’s stock valued at $1,789,000 after acquiring an additional 5,944 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in NIKE by 1.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,098,996 shares of the footwear maker’s stock valued at $69,220,000 after acquiring an additional 17,692 shares during the last quarter. Western Wealth Management LLC increased its stake in NIKE by 9.2% in the fourth quarter. Western Wealth Management LLC now owns 16,647 shares of the footwear maker’s stock valued at $1,061,000 after acquiring an additional 1,396 shares during the last quarter. Rayburn West Financial Services LLC bought a new position in NIKE in the fourth quarter valued at $481,000. Finally, Cardinal Point Capital Management ULC increased its stake in NIKE by 4.6% in the fourth quarter. Cardinal Point Capital Management ULC now owns 34,902 shares of the footwear maker’s stock valued at $2,224,000 after acquiring an additional 1,525 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.0%

NYSE NKE opened at $42.37 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The stock has a market capitalization of $62.74 billion, a PE ratio of 28.06, a PEG ratio of 2.25 and a beta of 1.12. NIKE, Inc. has a 1 year low of $41.70 and a 1 year high of $80.17. The business’s 50-day moving average is $48.58 and its 200 day moving average is $58.41.

NIKE (NYSE:NKEGet Free Report) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (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 analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.NIKE’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.9%. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

Insiders Place Their Bets

In other NIKE news, Director Timothy D. Cook bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the purchase, the director directly owned 130,480 shares of the company’s stock, valued at $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Elliott Hill bought 23,660 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the purchase, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 64,441 shares of company stock valued at $2,734,204 over the last three months. Company insiders own 0.80% of the company’s stock.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their target price on NIKE from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Evercore reduced their price objective on NIKE from $69.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Williams Trading reduced their price objective on NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price objective (down from $60.00) on shares of NIKE in a research note on Friday, April 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of NIKE in a research note on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.04.

Read Our Latest Analysis on NKE

About NIKE

(Free Report)

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).

Further Reading

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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