Neo Ivy Capital Management Increases Position in NIKE, Inc. (NYSE:NKE)

Neo Ivy Capital Management boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 308.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 108,441 shares of the footwear maker's stock after purchasing an additional 81,901 shares during the period. NIKE comprises 1.7% of Neo Ivy Capital Management's investment portfolio, making the stock its 7th biggest position. Neo Ivy Capital Management's holdings in NIKE were worth $8,205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Wellington Management Group LLP grew its position in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the period. Geode Capital Management LLC grew its position in shares of NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after acquiring an additional 347,178 shares during the period. Capital World Investors grew its position in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after acquiring an additional 2,288,627 shares during the period. Bank of New York Mellon Corp increased its stake in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of NIKE in the 4th quarter worth approximately $1,126,288,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research reports. Berenberg Bank assumed coverage on NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective for the company. Stifel Nicolaus lowered their target price on NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Williams Trading cut their price target on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Piper Sandler decreased their price objective on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, UBS Group dropped their price objective on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a report on Friday, March 21st. Seventeen 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. According to data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and an average target price of $80.26.

NIKE Price Performance

NYSE:NKE traded down $1.30 during trading hours on Monday, hitting $60.02. 14,271,999 shares of the company's stock traded hands, compared to its average volume of 14,972,313. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The business's fifty day simple moving average is $59.88 and its two-hundred day simple moving average is $70.11. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $88.78 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company's revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 EPS. On average, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is currently 53.16%.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company 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.