Soros Capital Management LLC Raises Position in NIKE, Inc. $NKE

Key Points

• Soros Capital Management LLC increased its holdings in NIKE, Inc. by 59.6% in the first quarter, now owning 63,716 shares valued at approximately $4.04 million.
• In related news, NIKE's Chairman Mark G. Parker sold 86,078 shares in August for about $6.54 million, a 10.36% reduction in his position.
• NIKE reported earnings of $0.14 per share for the last quarter, exceeding forecasts, but it experienced a 11.9% decline in revenue year-over-year.

Soros Capital Management LLC raised its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 59.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,716 shares of the footwear maker's stock after acquiring an additional 23,802 shares during the quarter. NIKE makes up 1.0% of Soros Capital Management LLC's portfolio, making the stock its 24th biggest holding. Soros Capital Management LLC's holdings in NIKE were worth $4,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. AlTi Global Inc. raised its holdings in shares of NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after acquiring an additional 150 shares during the last quarter. Peregrine Asset Advisers Inc. raised its holdings in shares of NIKE by 1.2% in the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock worth $934,000 after acquiring an additional 181 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in shares of NIKE by 4.3% in the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock worth $296,000 after acquiring an additional 192 shares during the last quarter. Crew Capital Management Ltd. raised its holdings in shares of NIKE by 1.4% in the first quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock worth $873,000 after acquiring an additional 192 shares during the last quarter. Finally, Sculati Wealth Management LLC raised its holdings in shares of NIKE by 1.4% in the fourth quarter. Sculati Wealth Management LLC now owns 14,387 shares of the footwear maker's stock worth $1,089,000 after acquiring an additional 195 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company's stock.

NIKE Trading Down 0.6%

NKE stock traded down $0.45 during trading on Wednesday, reaching $78.20. 12,633,901 shares of the stock traded hands, compared to its average volume of 9,298,987. The business's 50 day moving average price is $73.60 and its 200-day moving average price is $67.84. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. 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 firm has a market capitalization of $115.50 billion, a PE ratio of 36.20, a P/E/G ratio of 2.86 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last posted 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 firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. The firm's quarterly revenue was down 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is 74.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NKE shares. Truist Financial cut their price target on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. 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 report on Friday, June 27th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $115.00 price objective on shares of NIKE in a research report on Friday, August 22nd. Piper Sandler lifted their price objective on NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group lifted their price objective on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

About NIKE

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.