Liontrust Investment Partners LLP Invests $8.83 Million in NIKE, Inc. $NKE

Key Points

• Liontrust Investment Partners LLP invested approximately $8.83 million to acquire 139,108 shares of NIKE, Inc. during the first quarter.
• NIKE announced a quarterly dividend of $0.40 per share, leading to an annualized dividend yield of 2.1%.
• The company's latest earnings report showed earnings per share of $0.14, surpassing analysts' estimates, despite a 11.9% year-over-year decline in quarterly revenue.

Liontrust Investment Partners LLP bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 139,108 shares of the footwear maker's stock, valued at approximately $8,831,000.

Several other institutional investors and hedge funds have also modified their holdings of NKE. Spire Wealth Management lifted its position in shares of NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after purchasing an additional 416 shares in the last quarter. Capitolis Liquid Global Markets LLC boosted its position in NIKE by 40.9% in the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after buying an additional 90,000 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of NIKE by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after buying an additional 463,470 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after acquiring an additional 5,601 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its stake in shares of NIKE by 20.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock valued at $3,963,000 after acquiring an additional 8,792 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction 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 sale, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.80% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on NKE shares. Piper Sandler boosted their price objective on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Telsey Advisory Group reiterated a "market perform" rating and issued a $70.00 price objective on shares of NIKE in a report on Friday, June 27th. Needham & Company LLC increased their price target on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $78.22.

NIKE Stock Down 0.8%

Shares of NKE traded down $0.61 during mid-day trading on Tuesday, hitting $76.82. 6,858,929 shares of the company's stock were exchanged, compared to its average volume of 16,779,396. 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, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company has a market cap of $113.46 billion, a PE ratio of 35.56, a P/E/G ratio of 2.80 and a beta of 1.27. The company has a 50-day simple moving average of $71.36 and a 200 day simple moving average of $67.56.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during 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 firm's revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 earnings per share. On average, research analysts forecast 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. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

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.