Mengis Capital Management Inc. Boosts Stock Position in NIKE, Inc. $NKE

Mengis Capital Management Inc. lifted its stake in NIKE, Inc. (NYSE:NKE) by 42.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 51,721 shares of the footwear maker’s stock after purchasing an additional 15,351 shares during the period. Mengis Capital Management Inc.’s holdings in NIKE were worth $3,295,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NKE. Cornerstone Financial Management LLC acquired a new position in NIKE during the fourth quarter worth $26,000. Sankala Group LLC acquired a new stake in shares of NIKE in the 4th quarter worth $26,000. J.Safra Asset Management Corp acquired a new stake in shares of NIKE in the 4th quarter worth $29,000. Kemnay Advisory Services Inc. purchased a new position in shares of NIKE during the 4th quarter worth $30,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in shares of NIKE during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In related news, Director Timothy D. Cook acquired 25,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were purchased at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the acquisition, the director owned 130,480 shares in the company, valued at $5,536,266.40. The trade was a 23.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. The trade was a 24.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders bought 64,441 shares of company stock worth $2,734,204. Insiders own 0.80% of the company’s stock.

NIKE Stock Up 0.0%

Shares of NYSE:NKE opened at $45.22 on Friday. The business has a 50-day moving average price of $44.39 and a 200 day moving average price of $54.79. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $66.97 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the firm earned $0.54 EPS. NIKE’s revenue was up .1% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s payout ratio is 108.61%.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Barclays reiterated a Buy rating on NIKE, which can support sentiment by signaling that analysts still see upside in the stock. Barclays Remains a Buy on Nike (NKE)
• Positive Sentiment: NIKE outperformed the broader market in the latest trading session, suggesting traders may be positioning ahead of upcoming earnings and looking for signs that the turnaround is taking hold. Nike (NKE) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Coverage highlighted stronger traction in one major market and signs that NIKE’s recovery is gaining momentum, which could improve confidence in the company’s earnings outlook. Headed Into Earnings, Nike Stock Is Trading Lower Than It Was a Decade Ago. But Is the Turnaround Finally Working?

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NKE. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Piper Sandler restated a “neutral” rating and set a $50.00 price objective (down from $60.00) on shares of NIKE in a research report on Friday, April 10th. Wells Fargo & Company set a $45.00 target price on shares of NIKE and gave the stock an “equal weight” rating in a research note on Friday, May 8th. HSBC lowered shares of NIKE from a “buy” rating to a “hold” rating and decreased their target price for the company from $90.00 to $48.00 in a report on Monday, April 13th. Finally, Royal Bank Of Canada downgraded shares of NIKE from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $70.00 to $50.00 in a report on Wednesday, June 10th. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.89.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).