Mattern Capital Management LLC Purchases 15,178 Shares of NIKE, Inc. (NYSE:NKE)

Mattern Capital Management LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 106,170 shares of the footwear maker's stock after buying an additional 15,178 shares during the quarter. Mattern Capital Management LLC's holdings in NIKE were worth $8,034,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Range Financial Group LLC purchased a new stake in NIKE during the 4th quarter worth approximately $642,000. Cacti Asset Management LLC purchased a new stake in NIKE during the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in NIKE during the 4th quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. increased its holdings in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker's stock worth $1,955,000 after purchasing an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC increased its holdings in NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker's stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction that occurred 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 in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of the business's stock in a transaction dated Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, 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. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NKE shares. Truist Financial decreased their target price on NIKE from $97.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, December 20th. TD Cowen cut their target price on NIKE from $78.00 to $73.00 and set a "hold" rating on the stock in a research report on Monday, November 18th. Telsey Advisory Group reiterated a "market perform" rating and set a $80.00 price target on shares of NIKE in a report on Wednesday. Robert W. Baird lowered their target price on NIKE from $110.00 to $105.00 and set an "outperform" rating on the stock in a research note on Monday, December 23rd. Finally, Citigroup downgraded NIKE from a "buy" rating to a "neutral" rating and lowered their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.62.

NIKE Price Performance

Shares of NYSE NKE traded down $0.73 during midday trading on Friday, reaching $76.50. The company's stock had a trading volume of 12,813,494 shares, compared to its average volume of 13,223,615. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $106.62. The business's 50 day moving average price is $74.33 and its two-hundred day moving average price is $78.05. The company has a market cap of $113.15 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analysts' expectations of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company's revenue was down 7.7% on a year-over-year basis. On average, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, March 3rd. NIKE's dividend payout ratio (DPR) is presently 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.