Caitong International Asset Management Co. Ltd Acquires 47,731 Shares of NIKE, Inc. $NKE

Key Points

• Caitong International Asset Management boosted its NIKE stake by 911.4% in the fourth quarter, ending with 52,968 shares worth about $3.38 million.
• Several other institutions also moved in NIKE, and institutional investors now own 64.25% of the company’s stock, indicating continued professional interest.
• NIKE has seen mixed analyst sentiment: Barclays reiterated a Buy rating, but other firms cut targets, and the overall consensus remains Hold with a target price of $60.89.

Caitong International Asset Management Co. Ltd lifted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 911.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,968 shares of the footwear maker's stock after acquiring an additional 47,731 shares during the quarter. NIKE makes up about 0.8% of Caitong International Asset Management Co. Ltd's investment portfolio, making the stock its 20th largest position. Caitong International Asset Management Co. Ltd's holdings in NIKE were worth $3,375,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after acquiring an additional 160,980 shares during the period. Caxton Associates LLP bought a new position in shares of NIKE in the 1st quarter worth $311,000. United Bank grew its stake in shares of NIKE by 11.3% during the second quarter. United Bank now owns 17,067 shares of the footwear maker's stock worth $1,212,000 after purchasing an additional 1,736 shares during the period. NewEdge Advisors LLC increased its holdings in NIKE by 0.3% in the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker's stock valued at $4,558,000 after purchasing an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in NIKE by 6.5% in the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker's stock valued at $13,588,000 after buying an additional 11,646 shares during the period. Institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the purchase, the director owned 41,022 shares of the company's stock, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan bought 11,781 shares of the firm's stock in a transaction on Tuesday, April 7th. The shares were acquired at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the transaction, the director owned 55,074 shares in the company, valued at approximately $2,337,340.56. This represents a 27.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by insiders.

NIKE News Roundup

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?

NIKE Stock Performance

NYSE NKE opened at $45.22 on Friday. The firm has a market capitalization of $66.97 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. 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 firm's fifty day moving average price is $44.39 and its two-hundred day moving average price is $54.79. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company had revenue of $11.28 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the prior year, the firm earned $0.54 EPS. NIKE's quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate 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. Investors of record on Monday, June 1st will be paid a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.6%. NIKE's dividend payout ratio is 108.61%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NKE. Royal Bank Of Canada downgraded shares of NIKE from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $70.00 to $50.00 in a research report on Wednesday, June 10th. Wells Fargo & Company set a $45.00 price target on shares of NIKE and gave the company an "equal weight" rating in a report on Friday, May 8th. DA Davidson downgraded NIKE from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. Sanford C. Bernstein reissued a "buy" rating on shares of NIKE in a research note on Monday, May 11th. Finally, Bank of America reaffirmed a "neutral" rating and set a $55.00 price target (down from $73.00) on shares of NIKE in a research report on Wednesday, April 1st. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.89.

NIKE Company 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).

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