Generate Investment Management Ltd Invests $5.25 Million in NIKE, Inc. (NYSE:NKE)

Generate Investment Management Ltd bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 82,706 shares of the footwear maker's stock, valued at approximately $5,250,000.

Other hedge funds also recently made changes to their positions in the company. Elgethun Capital Management increased its stake in NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after acquiring an additional 149 shares during the last quarter. AlTi Global Inc. increased its stake in NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after acquiring an additional 150 shares during the last quarter. Staley Capital Advisers Inc. increased its stake in NIKE by 4.4% in the fourth quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock valued at $286,000 after acquiring an additional 160 shares during the last quarter. Cohen & Steers Inc. increased its stake in NIKE by 5.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock valued at $240,000 after acquiring an additional 160 shares during the last quarter. Finally, Nwam LLC increased its stake in NIKE by 2.9% in the fourth quarter. Nwam LLC now owns 6,318 shares of the footwear maker's stock valued at $478,000 after acquiring an additional 176 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their price objective on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Evercore ISI decreased their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday. China Renaissance initiated coverage on shares of NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating on the stock. Truist Financial decreased their price objective on shares of NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, UBS Group cut their target price on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Sixteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.59.

NIKE Price Performance

Shares of NYSE:NKE opened at $61.44 on Wednesday. The firm has a market cap of $90.88 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.16 and a beta of 1.21. The firm's fifty day moving average is $60.02 and its 200-day moving average is $67.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $97.64.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.60%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.

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