Migdal Insurance & Financial Holdings Ltd. Purchases 224,002 Shares of NIKE, Inc. $NKE

Migdal Insurance & Financial Holdings Ltd. lifted its position in NIKE, Inc. (NYSE:NKE) by 22,134.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 225,014 shares of the footwear maker’s stock after buying an additional 224,002 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in NIKE were worth $16,185,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of NIKE during the first quarter valued at approximately $509,051,000. Nuveen LLC purchased a new position in shares of NIKE during the first quarter valued at approximately $502,285,000. Finally, Vanguard Group Inc. raised its holdings in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NKE opened at $67.40 on Wednesday. The firm has a market cap of $99.63 billion, a P/E ratio of 34.57, a PEG ratio of 2.53 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a 50 day simple moving average of $72.01 and a two-hundred day simple moving average of $68.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The business 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%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

Insider Buying and Selling

In related news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several research reports. UBS Group set a $71.00 price objective on shares of NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a report on Friday, October 10th. KeyCorp set a $90.00 target price on shares of NIKE and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, Piper Sandler set a $84.00 target price on shares of NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

About NIKE

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.