NIKE, Inc. (NYSE:NKE) Shares Bought by Manitou Investment Management Ltd.

Manitou Investment Management Ltd. boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 137.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 149,718 shares of the footwear maker's stock after purchasing an additional 86,792 shares during the quarter. NIKE comprises about 1.8% of Manitou Investment Management Ltd.'s holdings, making the stock its 16th largest position. Manitou Investment Management Ltd.'s holdings in NIKE were worth $9,504,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Renaissance Technologies LLC grew its stake in NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after acquiring an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC boosted its holdings in shares of NIKE by 40.9% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after purchasing an additional 90,000 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of 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 purchasing an additional 463,470 shares during the period. Markel Group Inc. lifted its position in NIKE by 0.8% during the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock worth $32,720,000 after buying an additional 3,500 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in NIKE by 3.3% in the 4th quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock worth $18,042,000 after buying an additional 7,536 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NKE shares. Stifel Nicolaus decreased their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Williams Trading cut their target price on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their price target on NIKE from $64.00 to $56.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Finally, Truist Financial decreased 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. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.26.

Insiders Place Their Bets

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

NIKE Stock Performance

NKE stock traded up $1.99 during mid-day trading on Tuesday, reaching $63.90. The company had a trading volume of 15,265,176 shares, compared to its average volume of 15,092,670. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The stock has a market capitalization of $94.51 billion, a P/E ratio of 19.72, a P/E/G ratio of 2.52 and a beta of 1.21. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock's 50-day simple moving average is $58.80 and its two-hundred day simple moving average is $69.04.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the firm posted $0.98 EPS. NIKE's quarterly revenue was down 9.1% compared to the same quarter last year. Research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 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.