NIKE, Inc. $NKE Stock Position Lifted by Caitong International Asset Management Co. Ltd

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in NIKE, Inc. by 948.8% in the second quarter, acquiring an additional 13,596 shares and making it the company's 24th largest position.
• Analysts express optimism about NIKE's future, with a consensus rating of "Moderate Buy" and a target price average of $82.21.
• NIKE reported earnings per share of $0.49 for the last quarter, exceeding the expected $0.27, and generated revenue of $11.72 billion, a 1.0% year-over-year increase.

Caitong International Asset Management Co. Ltd boosted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 948.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,029 shares of the footwear maker's stock after purchasing an additional 13,596 shares during the period. NIKE comprises approximately 0.8% of Caitong International Asset Management Co. Ltd's holdings, making the stock its 24th largest position. Caitong International Asset Management Co. Ltd's holdings in NIKE were worth $1,068,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Goldman Sachs Group Inc. grew its position in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP lifted its stake in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the last quarter. Jennison Associates LLC acquired a new stake in NIKE in the first quarter valued at approximately $509,051,000. Nuveen LLC acquired a new stake in NIKE in the first quarter valued at approximately $502,285,000. Finally, Vanguard Group Inc. lifted its stake in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of NIKE in a research note on Friday, October 10th. Sanford C. Bernstein reiterated a "buy" rating and issued a $90.00 target price on shares of NIKE in a research note on Monday, October 13th. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the company a "hold" rating in a research note on Wednesday, October 1st. Finally, Citigroup upgraded shares of NIKE from a "neutral" rating to a "positive" rating in a research note on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.21.

NIKE Price Performance

Shares of NIKE stock opened at $69.68 on Friday. The firm has a fifty day simple moving average of $72.54 and a 200-day simple moving average of $67.67. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The stock has a market capitalization of $103.00 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 2.55 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to analysts' expectations of $10.96 billion. During the same period in the previous year, the company earned $0.70 earnings per share. NIKE's revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE's dividend payout ratio is presently 82.05%.

Insider Buying and Selling at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the company's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, 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 disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

NIKE Company 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.

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