Twinbeech Capital LP Takes $46.41 Million Position in NIKE, Inc. (NYSE:NKE)

Twinbeech Capital LP purchased a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 613,355 shares of the footwear maker's stock, valued at approximately $46,413,000.

Other institutional investors have also recently made changes to their positions in the company. JNBA Financial Advisors grew its stake in NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock valued at $760,000 after purchasing an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its stake in NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock valued at $1,547,000 after purchasing an additional 136 shares during the last quarter. Elgethun Capital Management grew its stake in NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after purchasing an additional 149 shares during the last quarter. Game Plan Financial Advisors LLC grew its stake in 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 purchasing an additional 150 shares during the last quarter. Finally, AlTi Global Inc. grew its stake in NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan purchased 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NYSE NKE opened at $63.13 on Monday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The business has a 50-day moving average of $61.07 and a 200-day moving average of $70.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market capitalization of $93.38 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE - Get Free Report) last issued 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. NIKE's revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Wall Street Analyst Weigh In

Several research firms have issued reports on NKE. Bank of America cut their target price on NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Berenberg Bank assumed coverage on NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price on the stock. The Goldman Sachs Group lowered their price target on NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Telsey Advisory Group lowered their price target on NIKE from $80.00 to $70.00 and set a "market perform" rating for the company in a report on Tuesday, May 6th. Finally, Piper Sandler lowered their price target on NIKE from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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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