Fideuram Asset Management Ireland dac Makes New Investment in NIKE, Inc. $NKE

Key Points

• Fideuram Asset Management Ireland dac opened a new position in NIKE during the fourth quarter, buying 31,211 shares worth about $1.99 million.
• NIKE reported quarterly EPS of $0.35, topping estimates, and revenue of $11.28 billion, also slightly above expectations, though sales were nearly flat year over year.
• The company declared a quarterly dividend of $0.41 per share payable July 1, and insiders have also been buying shares recently, including directors Timothy D. Cook and Robert Holmes Swan.

Fideuram Asset Management Ireland dac acquired a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,211 shares of the footwear maker's stock, valued at approximately $1,988,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Harris Associates L P acquired a new position in NIKE during the second quarter worth $621,525,000. Ameriprise Financial Inc. boosted its stake in NIKE by 129.4% during the second quarter. Ameriprise Financial Inc. now owns 5,849,636 shares of the footwear maker's stock worth $411,951,000 after buying an additional 3,299,155 shares during the last quarter. Flossbach Von Storch SE boosted its stake in NIKE by 29.3% during the fourth quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker's stock worth $812,514,000 after buying an additional 2,886,856 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in NIKE during the third quarter worth $190,182,000. Finally, Amundi boosted its stake in NIKE by 85.2% during the third quarter. Amundi now owns 5,187,020 shares of the footwear maker's stock worth $369,160,000 after buying an additional 2,385,815 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Price Performance

NKE stock opened at $46.21 on Friday. 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 $68.42 billion, a PE ratio of 30.60, a P/E/G ratio of 2.51 and a beta of 1.12. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17. The business's fifty day moving average price is $45.75 and its 200 day moving average price is $56.76.

NIKE (NYSE:NKE - Get Free Report) last posted 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. The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. On average, sell-side analysts anticipate that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, June 1st. NIKE's payout ratio is currently 108.61%.

Insider Transactions at NIKE

In other news, Director Timothy D. Cook acquired 25,000 shares of the business's stock in a transaction that occurred on Friday, April 10th. The shares were purchased at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the acquisition, the director owned 130,480 shares of the company's stock, valued at $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan purchased 11,781 shares of the business's stock in a transaction on Tuesday, April 7th. The shares were bought at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the acquisition, the director owned 55,074 shares in the company, valued at $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 64,441 shares of company stock worth $2,734,204 over the last quarter. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their price target on NIKE from $65.00 to $56.00 and set a "hold" rating for the company in a report on Wednesday, April 1st. Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of NIKE in a research report on Monday, April 13th. Piper Sandler reissued 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. Finally, BTIG Research cut their price objective on NIKE from $90.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of "Hold" and a consensus target price of $62.04.

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).

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