FengHe Fund Management Pte. Ltd. Buys Shares of 160,200 NIKE, Inc. (NYSE:NKE)

Key Points

• FengHe Fund Management Pte. Ltd. acquired 160,200 shares of NIKE, Inc. valued at approximately $10.2 million, making it the fund's 11th largest position.
• The recent quarterly earnings report revealed an EPS of $0.14, surpassing analysts' expectations, though revenue declined by 11.9% year-over-year.
• NIKE announced a quarterly dividend of $0.40 per share, translating to an annualized yield of 2.1%, with a payout ratio of 74.07%.

FengHe Fund Management Pte. Ltd. bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 160,200 shares of the footwear maker's stock, valued at approximately $10,169,000. NIKE comprises approximately 3.8% of FengHe Fund Management Pte. Ltd.'s portfolio, making the stock its 11th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management boosted its stake in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after acquiring an additional 416 shares during the last quarter. Capitolis Liquid Global Markets LLC boosted its stake in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after acquiring an additional 90,000 shares during the last quarter. Janus Henderson Group PLC boosted its stake in NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after acquiring an additional 463,470 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after acquiring an additional 5,601 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after acquiring an additional 7,536 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE:NKE opened at $74.91 on Wednesday. The company's fifty day moving average price is $70.20 and its 200-day moving average price is $67.60. The firm has a market capitalization of $110.63 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.69 and a beta of 1.27. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE's dividend payout ratio is presently 74.07%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on NKE. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday, June 27th. Needham & Company LLC upped their price target on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Morgan Stanley upped their price target on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and upped their price target for the company from $64.00 to $93.00 in a research note on Monday, July 28th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.22.

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.

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.