NIKE, Inc. (NYSE:NKE) Stake Lessened by Tidal Investments LLC

Tidal Investments LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,949 shares of the footwear maker's stock after selling 20,622 shares during the period. Tidal Investments LLC's holdings in NIKE were worth $6,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of NKE. Tang Capital Management LLC grew its position in shares of NIKE by 65.5% in the fourth quarter. Tang Capital Management LLC now owns 15,789 shares of the footwear maker's stock valued at $1,195,000 after purchasing an additional 6,250 shares during the last quarter. Toronto Dominion Bank increased its position in shares of NIKE by 183.9% in the 4th quarter. Toronto Dominion Bank now owns 2,996,972 shares of the footwear maker's stock valued at $226,779,000 after buying an additional 1,941,375 shares in the last quarter. Sender Co & Partners Inc. acquired a new position in NIKE in the 4th quarter worth $3,603,000. Semper Augustus Investments Group LLC boosted its stake in shares of NIKE by 2.1% during the 4th quarter. Semper Augustus Investments Group LLC now owns 35,600 shares of the footwear maker's stock worth $2,694,000 after buying an additional 726 shares during the last quarter. Finally, Shell Asset Management Co. boosted its stake in shares of NIKE by 28.1% during the 4th quarter. Shell Asset Management Co. now owns 8,649 shares of the footwear maker's stock worth $654,000 after buying an additional 1,895 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is owned by insiders.

NIKE Price Performance

NKE stock opened at $62.03 on Tuesday. The company has a fifty day moving average price of $60.84 and a 200-day moving average price of $70.54. The company has a market capitalization of $91.75 billion, a P/E ratio of 19.15, a PEG ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the firm earned $0.98 earnings per share. NIKE's quarterly revenue was down 9.1% on a year-over-year basis. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NKE shares. Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Berenberg Bank started coverage on shares of NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price target on the stock. BMO Capital Markets lowered their target price on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Robert W. Baird lowered their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, Royal Bank of Canada lowered their target price on shares of NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $80.30.

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.

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