Elo Mutual Pension Insurance Co Trims Stock Holdings in NIKE, Inc. (NYSE:NKE)

Elo Mutual Pension Insurance Co cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,652 shares of the footwear maker’s stock after selling 6,485 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in NIKE were worth $8,222,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. JNBA Financial Advisors lifted its holdings in shares of NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares in the last quarter. Frisch Financial Group Inc. lifted its holdings in NIKE by 4.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after buying an additional 136 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after purchasing an additional 136 shares during the period. GAMMA Investing LLC grew its position in shares of NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after buying an additional 150 shares during the last quarter. Finally, Game Plan Financial Advisors LLC raised its position in shares of NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after purchasing an additional 150 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Stifel Nicolaus dropped their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Bank of America reduced their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Price Performance

Shares of NYSE NKE opened at $65.76 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $74.42 and a two-hundred day simple moving average of $77.13. NIKE, Inc. has a 1-year low of $64.95 and a 1-year high of $98.04. The firm has a market cap of $97.26 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the firm earned $0.98 EPS. NIKE’s revenue for the quarter was down 9.1% on a year-over-year basis. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.43%. NIKE’s payout ratio is currently 53.16%.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE 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.