Meitav Investment House Ltd. Buys 54,095 Shares of NIKE, Inc. (NYSE:NKE)

Meitav Investment House Ltd. boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 10.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,060 shares of the footwear maker’s stock after purchasing an additional 54,095 shares during the quarter. Meitav Investment House Ltd.’s holdings in NIKE were worth $45,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of NIKE by 187.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock worth $28,641,000 after purchasing an additional 211,461 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in NIKE by 25.5% in the third quarter. Raleigh Capital Management Inc. now owns 3,478 shares of the footwear maker’s stock worth $307,000 after acquiring an additional 706 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of NIKE by 26.5% during the third quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock worth $425,000 after acquiring an additional 1,006 shares during the last quarter. Oakworth Capital Inc. increased its holdings in shares of NIKE by 37.8% during the third quarter. Oakworth Capital Inc. now owns 2,066 shares of the footwear maker’s stock valued at $183,000 after acquiring an additional 567 shares in the last quarter. Finally, Eastern Bank raised its position in shares of NIKE by 250.9% in the 3rd quarter. Eastern Bank now owns 17,532 shares of the footwear maker’s stock valued at $1,550,000 after purchasing an additional 12,535 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

NKE has been the topic of several research analyst reports. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Robert W. Baird cut their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research note on Friday, February 7th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Stock Down 1.0 %

NKE stock opened at $76.80 on Thursday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $106.62. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $74.34 and a 200-day simple moving average of $78.06. The stock has a market capitalization of $113.60 billion, a P/E ratio of 23.70, a P/E/G ratio of 2.38 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed 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 is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. NIKE’s payout ratio is currently 49.38%.

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.