Neuberger Berman Group LLC Buys 970,556 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Neuberger Berman Group LLC increased its stake in NIKE, Inc. by 42.9%, bringing their total shares owned to approximately 3.23 million, valued at $205.62 million.
• NIKE reported a quarterly earnings EPS of $0.14, exceeding analysts' expectations, with revenue of $11.10 billion, although this marked an 11.9% decline year-over-year.
• The company declared a quarterly dividend of $0.40 per share, which will be paid out on October 1st, with a current dividend yield of 2.1%.

Neuberger Berman Group LLC boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 42.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,230,386 shares of the footwear maker's stock after buying an additional 970,556 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.22% of NIKE worth $205,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Spire Wealth Management grew its position in shares of NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after purchasing an additional 416 shares in the last quarter. Capitolis Liquid Global Markets LLC grew its position in shares of NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after purchasing an additional 90,000 shares in 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after purchasing an additional 5,601 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after purchasing an additional 7,536 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 1.0%

NYSE:NKE traded down $0.75 during mid-day trading on Thursday, reaching $76.45. 7,988,157 shares of the company's stock traded hands, compared to its average volume of 10,984,708. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The firm has a market capitalization of $112.91 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 2.81 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company has a 50 day moving average price of $70.76 and a 200-day moving average price of $67.67.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the business earned $0.99 EPS. NIKE's revenue was down 11.9% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. 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 payout ratio is currently 74.07%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NKE shares. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Williams Trading dropped their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Truist Financial dropped their price objective on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Finally, Robert W. Baird lifted their price objective on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

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.