NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd Invests $12.65 Million in NIKE, Inc. (NYSE:NKE)

NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd bought a new position in NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 199,294 shares of the footwear maker's stock, valued at approximately $12,651,000. NIKE comprises 62.0% of NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd's holdings, making the stock its largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC grew its holdings in NIKE by 40.9% during 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 during the period. Janus Henderson Group PLC grew its holdings in NIKE by 8.3% during 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. grew its holdings in NIKE by 0.8% during the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock valued at $32,720,000 after purchasing an additional 3,500 shares during the period. Finally, Evergreen Capital Management LLC grew its holdings in NIKE by 3.3% during 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 during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Activity at NIKE

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NKE. Needham & Company LLC reduced their price objective on NIKE from $75.00 to $66.00 and set a "buy" rating for the company in a report on Wednesday. Stifel Nicolaus reduced their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Bank of America reduced their price objective on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 25th. Truist Financial dropped their target price on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, The Goldman Sachs Group dropped their target price on NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and a consensus target price of $79.15.

NIKE Price Performance

NKE traded up $0.05 during trading on Wednesday, reaching $60.05. The stock had a trading volume of 3,765,987 shares, compared to its average volume of 15,179,054. The stock has a market cap of $88.82 billion, a PE ratio of 19.95, a PEG ratio of 2.14 and a beta of 1.21. 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 one year low of $52.28 and a one year high of $98.04. The business has a 50-day moving average of $59.57 and a 200-day moving average of $68.42.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm's revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. NIKE's dividend payout ratio is presently 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.