Eagle Rock Investment Company LLC Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

Eagle Rock Investment Company LLC grew its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,761 shares of the footwear maker's stock after buying an additional 6,119 shares during the quarter. Eagle Rock Investment Company LLC's holdings in NIKE were worth $4,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC increased its position in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after buying an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC boosted its stake in shares of NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after acquiring an additional 90,000 shares during the period. Janus Henderson Group PLC boosted its stake in shares of NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after acquiring an additional 463,470 shares during the period. Markel Group Inc. boosted its stake in shares of NIKE by 0.8% in the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock worth $32,720,000 after acquiring an additional 3,500 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in shares of NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock worth $18,042,000 after acquiring an additional 7,536 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Price Performance

NYSE:NKE opened at $62.82 on Friday. NIKE, Inc. has a 1 year low of $52.28 and a 1 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. The firm has a market capitalization of $92.92 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. The business has a 50 day simple moving average of $58.86 and a 200-day simple moving average of $69.22.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the company posted $0.98 EPS. NIKE's revenue was down 9.1% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is 53.16%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Williams Trading dropped their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Stifel Nicolaus dropped their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Piper Sandler dropped their price objective on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. UBS Group dropped their price objective on NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. Finally, Truist Financial dropped their price objective on NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $80.26.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

About NIKE

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.