Edgestream Partners L.P. Acquires 20,298 Shares of NIKE, Inc. (NYSE:NKE)

Edgestream Partners L.P. grew its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 276.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,649 shares of the footwear maker's stock after buying an additional 20,298 shares during the quarter. Edgestream Partners L.P.'s holdings in NIKE were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Norges Bank bought a new position in NIKE during the fourth quarter worth about $1,126,288,000. Wellington Management Group LLP boosted its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Renaissance Technologies LLC grew its holdings in NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the period. Capital World Investors increased its stake in NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Finally, Flossbach Von Storch SE raised its holdings in NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock worth $652,995,000 after purchasing an additional 1,988,547 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NKE traded down $0.48 during midday trading on Friday, reaching $72.50. The stock had a trading volume of 8,792,733 shares, compared to its average volume of 15,110,180. The firm has a 50 day simple moving average of $65.49 and a 200-day simple moving average of $67.21. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The firm has a market cap of $107.24 billion, a PE ratio of 33.56, a P/E/G ratio of 2.68 and a beta of 1.25. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.21%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Analyst Ratings Changes

Several brokerages recently commented on NKE. Morgan Stanley raised their price objective on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Wall Street Zen lowered NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a report on Thursday, July 10th. Truist Financial reduced their target price on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday, June 24th. Finally, Berenberg Bank assumed coverage on shares of NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective on the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $77.15.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company 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.