Mizuho Securities USA LLC Acquires 34,934 Shares of NIKE, Inc. (NYSE:NKE)

Mizuho Securities USA LLC raised its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 44.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,842 shares of the footwear maker's stock after buying an additional 34,934 shares during the period. Mizuho Securities USA LLC's holdings in NIKE were worth $8,539,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its position in NIKE by 4.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker's stock worth $5,875,000 after buying an additional 2,843 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of NIKE by 39.6% during the third quarter. Advisors Asset Management Inc. now owns 48,282 shares of the footwear maker's stock worth $4,268,000 after purchasing an additional 13,689 shares during the period. Intech Investment Management LLC grew its stake in shares of NIKE by 3.2% in the third quarter. Intech Investment Management LLC now owns 51,478 shares of the footwear maker's stock worth $4,551,000 after purchasing an additional 1,580 shares during the last quarter. LPL Financial LLC increased its holdings in NIKE by 19.3% in the third quarter. LPL Financial LLC now owns 1,028,131 shares of the footwear maker's stock valued at $90,887,000 after purchasing an additional 166,127 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in NIKE by 19.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker's stock worth $637,352,000 after purchasing an additional 1,184,252 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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NIKE Price Performance

Shares of NKE traded down $0.79 during midday trading on Wednesday, hitting $65.76. 18,682,768 shares of the company traded hands, compared to its average volume of 12,445,971. The stock has a 50-day moving average of $74.52 and a 200-day moving average of $77.21. The firm has a market cap of $97.26 billion, a P/E ratio of 20.29, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a one year low of $64.96 and a one year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm's revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company lowered their price objective on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Guggenheim restated a "buy" rating and issued a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Truist Financial cut their price objective on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Morgan Stanley decreased their target price on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $87.38.

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.