Migdal Insurance & Financial Holdings Ltd. Buys 650,000 Shares of NIKE, Inc. (NYSE:NKE)

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 64,229.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 651,012 shares of the footwear maker’s stock after buying an additional 650,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in NIKE were worth $49,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Atomi Financial Group Inc. raised its position in shares of NIKE by 4.7% during the third quarter. Atomi Financial Group Inc. now owns 11,243 shares of the footwear maker’s stock valued at $994,000 after buying an additional 500 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of NIKE by 11.3% in the third quarter. Brookstone Capital Management now owns 91,176 shares of the footwear maker’s stock valued at $8,060,000 after purchasing an additional 9,226 shares in the last quarter. First PREMIER Bank grew its holdings in shares of NIKE by 666.7% in the third quarter. First PREMIER Bank now owns 690 shares of the footwear maker’s stock valued at $61,000 after purchasing an additional 600 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of NIKE by 35.4% in the third quarter. Hexagon Capital Partners LLC now owns 3,196 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 835 shares in the last quarter. Finally, High Note Wealth LLC purchased a new position in shares of NIKE in the third quarter valued at $208,000. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 3.8 %

Shares of NKE stock opened at $71.75 on Friday. The stock has a 50 day simple moving average of $75.45 and a 200-day simple moving average of $78.10. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market cap of $106.13 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.50 and a beta of 1.01.

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

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. NIKE’s dividend payout ratio is currently 49.38%.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NKE shares. Morgan Stanley cut their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Robert W. Baird lowered their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Wells Fargo & Company decreased their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Truist Financial decreased their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Stifel Nicolaus decreased their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $89.77.

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.