NIKE, Inc. $NKE Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. boosted its NIKE stake by 253.7% in the first quarter, buying 742,992 additional shares and bringing its total holding to 1,035,829 shares worth about $54.7 million.
• Several large investors also increased exposure to NIKE, while insider buying picked up, including director Timothy D. Cook and director John W. Rogers, Jr., who together bought 29,000 shares in April.
• NIKE’s stock has been pressured by mixed analyst sentiment and weak trading, with the shares near a 1-year low; the company recently beat quarterly EPS estimates, and it also announced a quarterly dividend of $0.41 per share.

Assenagon Asset Management S.A. lifted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 253.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,035,829 shares of the footwear maker's stock after acquiring an additional 742,992 shares during the period. Assenagon Asset Management S.A. owned 0.07% of NIKE worth $54,712,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NKE. Vanguard Group Inc. boosted its holdings in shares of NIKE by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker's stock valued at $7,453,658,000 after acquiring an additional 1,702,342 shares in the last quarter. State Street Corp increased its position in shares of NIKE by 2.2% during the 4th quarter. State Street Corp now owns 59,315,606 shares of the footwear maker's stock valued at $3,802,807,000 after purchasing an additional 1,275,494 shares during the period. Capital World Investors increased its position in shares of NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker's stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the period. J. Stern & Co. LLP raised its stake in shares of NIKE by 49,010.4% in the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker's stock worth $3,061,555,000 after buying an additional 47,956,692 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of NIKE by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker's stock worth $1,677,251,000 after buying an additional 233,925 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays decreased their target price on NIKE from $73.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. Williams Trading dropped their price target on shares of NIKE from $80.00 to $57.00 and set a "buy" rating on the stock in a research report on Wednesday, April 1st. Zacks Research downgraded shares of NIKE from a "hold" rating to a "strong sell" rating in a report on Monday, June 1st. Piper Sandler restated a "neutral" rating and set a $50.00 price objective (down from $60.00) on shares of NIKE in a research report on Friday, April 10th. Finally, Berenberg Bank reaffirmed a "neutral" rating on shares of NIKE in a research note on Wednesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, NIKE has an average rating of "Hold" and an average target price of $59.40.

Insiders Place Their Bets

In other NIKE news, Director Timothy D. Cook purchased 25,000 shares of the company's stock in a transaction that occurred on Friday, April 10th. The shares were purchased at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the transaction, the director owned 130,480 shares of the company's stock, valued at approximately $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Rogers, Jr. acquired 4,000 shares of NIKE stock in a transaction that occurred on Thursday, April 9th. The stock was acquired at an average cost of $43.34 per share, with a total value of $173,360.00. Following the completion of the purchase, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This represents a 10.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 64,441 shares of company stock valued at $2,734,204 over the last quarter. 0.80% of the stock is owned by insiders.

NIKE Trading Down 2.5%

NYSE:NKE opened at $40.79 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 1-year low of $40.44 and a 1-year high of $80.17. The firm has a market capitalization of $60.40 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 1.81 and a beta of 1.12. The stock has a fifty day simple moving average of $44.29 and a 200 day simple moving average of $54.05.

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 for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion for the quarter, compared to analysts' expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.NIKE's revenue was up .1% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. Sell-side analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.0%. NIKE's dividend payout ratio is presently 108.61%.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Neutral Sentiment: Wells Fargo gave Nike a Hold rating, reflecting a cautious stance ahead of earnings. Wells Fargo Gives a Hold Rating to Nike (NKE)
• Positive Sentiment: Sanford C. Bernstein reaffirmed a Buy rating, suggesting some analysts still see upside despite the turnaround challenges. Nike Inc. Receives a Buy Rating from Bernstein
• Neutral Sentiment: Upcoming fourth-quarter earnings and guidance are the main catalyst, with investors watching whether Nike’s “Win Now” strategy is starting to improve results. Nike Wants to Make a Comeback. Should You Buy the Stock Before June 30?
• Negative Sentiment: A reported plan to restrict Chinese distributors’ online sales was criticized as a strategic mistake, raising concern about Nike’s China strategy and future growth. NKE Stock Slips On China Business Strategy Misstep And Surprise CFO Change Before Earnings
• Negative Sentiment: Nike’s surprise CFO transition is adding uncertainty, with analysts warning that the turnaround may take several more quarters to show clear progress. Nike's New CFO Won't Speed Up Its Turnaround

About NIKE

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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