NIKE, Inc. $NKE Shares Acquired by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. increased its NIKE stake by 42% in the fourth quarter, buying 37,074 additional shares and bringing its total holdings to 125,307 shares worth about $7.99 million.
• Wall Street sentiment remains cautious: analysts have a consensus rating of Hold on NIKE, with an average price target of $62.04, even as several firms recently cut their targets.
• NIKE recently beat quarterly earnings estimates, reporting $0.35 EPS on $11.28 billion in revenue, while also announcing a $0.41 quarterly dividend that yields about 3.9% annually.

Phoenix Financial Ltd. lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 42.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,307 shares of the footwear maker's stock after purchasing an additional 37,074 shares during the quarter. Phoenix Financial Ltd.'s holdings in NIKE were worth $7,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Guerra Advisors Inc acquired a new stake in shares of NIKE during the 3rd quarter worth approximately $34,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of NIKE during the 3rd quarter worth approximately $35,000. Accredited Wealth Management LLC raised its position in shares of NIKE by 268.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock worth $36,000 after purchasing an additional 376 shares during the period. Matrix Trust Co raised its position in shares of NIKE by 43.6% during the 4th quarter. Matrix Trust Co now owns 596 shares of the footwear maker's stock worth $38,000 after purchasing an additional 181 shares during the period. Finally, Ares Financial Consulting LLC acquired a new stake in shares of NIKE during the 4th quarter worth approximately $40,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research reports. BNP Paribas Exane dropped their price target on NIKE from $35.00 to $23.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 1st. Telsey Advisory Group decreased their price objective on NIKE from $65.00 to $55.00 and set a "market perform" rating for the company in a report on Wednesday, April 1st. UBS Group decreased their price objective on NIKE from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Wednesday, April 1st. Robert W. Baird decreased their price objective on NIKE from $85.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Finally, DZ Bank reissued a "buy" rating on shares of NIKE in a report on Tuesday, April 21st. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $62.04.

NIKE Stock Performance

Shares of NYSE NKE opened at $42.02 on Friday. The stock has a fifty day moving average price of $48.23 and a two-hundred day moving average price of $58.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The firm has a market cap of $62.23 billion, a P/E ratio of 27.83, a PEG ratio of 2.25 and a beta of 1.12. NIKE, Inc. has a 1 year low of $41.70 and a 1 year high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm's quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS. Research analysts forecast that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, June 1st. NIKE's dividend payout ratio (DPR) is presently 108.61%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan purchased 11,781 shares of the firm's stock in a transaction on Tuesday, April 7th. The stock was purchased at an average cost of $42.44 per share, with a total value of $499,985.64. Following the purchase, the director owned 55,074 shares in the company, valued at $2,337,340.56. This trade represents a 27.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Elliott Hill purchased 23,660 shares of the firm's stock in a transaction on Monday, April 13th. The shares were purchased at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the purchase, the chief executive officer owned 265,247 shares in the company, valued at $11,211,990.69. This represents a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 64,441 shares of company stock valued at $2,734,204. Company insiders own 0.80% of the company's stock.

NIKE Company Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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