GF Fund Management CO. LTD. Invests $3.21 Million in NIKE, Inc. (NYSE:NKE)

GF Fund Management CO. LTD. acquired a new position in NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 42,432 shares of the footwear maker's stock, valued at approximately $3,211,000.

A number of other large investors have also modified their holdings of the company. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of NIKE in the fourth quarter worth about $2,466,000. Neo Ivy Capital Management increased its stake in shares of NIKE by 308.6% during the fourth quarter. Neo Ivy Capital Management now owns 108,441 shares of the footwear maker's stock worth $8,205,000 after purchasing an additional 81,901 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of NIKE by 22.0% during the fourth quarter. Sunbelt Securities Inc. now owns 4,259 shares of the footwear maker's stock worth $318,000 after purchasing an additional 768 shares in the last quarter. GTS Securities LLC increased its stake in shares of NIKE by 104.6% during the fourth quarter. GTS Securities LLC now owns 13,274 shares of the footwear maker's stock worth $1,004,000 after purchasing an additional 300,437 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of NIKE during the fourth quarter worth about $152,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on NKE. Truist Financial dropped their price objective on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. BMO Capital Markets reduced their target price on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, Bank of America reduced their target price on shares of NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Seventeen investment 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $80.26.

NIKE Stock Performance

Shares of NIKE stock traded down $1.08 during trading on Wednesday, hitting $61.75. 9,774,113 shares of the stock were exchanged, compared to its average volume of 14,975,713. The stock's fifty day moving average is $59.45 and its 200 day moving average is $69.95. The stock has a market cap of $91.34 billion, a PE ratio of 19.06, a P/E/G ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 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 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.59%. NIKE's dividend payout ratio is currently 53.16%.

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.