Tobam Buys 27,929 Shares of NIKE, Inc. (NYSE:NKE)

Tobam increased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 2,064.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,282 shares of the footwear maker's stock after acquiring an additional 27,929 shares during the period. Tobam's holdings in NIKE were worth $1,859,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. JNBA Financial Advisors grew its stake in shares of NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock worth $760,000 after purchasing an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock worth $1,547,000 after buying an additional 136 shares in the last quarter. Elgethun Capital Management grew its position in NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock worth $94,000 after buying an additional 149 shares during the last quarter. Game Plan Financial Advisors LLC increased its holdings in shares of NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock valued at $114,000 after buying an additional 150 shares in the last quarter. Finally, AlTi Global Inc. lifted its position in shares of NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after acquiring an additional 150 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

NIKE Price Performance

NKE stock traded down $2.36 during mid-day trading on Friday, hitting $60.44. The stock had a trading volume of 16,491,618 shares, compared to its average volume of 15,169,330. The firm has a fifty day simple moving average of $59.23 and a 200 day simple moving average of $68.85. The firm has a market capitalization of $89.40 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.52 and a beta of 1.21. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler decreased their target price on NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Barclays dropped their price target on NIKE from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Royal Bank of Canada reduced their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 20th. The Goldman Sachs Group dropped their target price on shares of NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company boosted their price target on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.26.

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.