WT Asset Management Ltd Buys Shares of 369,300 NIKE, Inc. $NKE

Key Points

• WT Asset Management Ltd has acquired approximately 369,300 shares of NIKE, Inc., valued at around $26.23 million, making NIKE 1.8% of its investment portfolio.
• NIKE reported a $0.49 EPS for the last quarter, surpassing expectations, with a revenue of $11.72 billion and a year-over-year increase of 1%.
• Several analysts have set a price target for NIKE shares, ranging from $70.00 to $115.00, with a consensus rating categorized as a "Moderate Buy."

WT Asset Management Ltd acquired a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 369,300 shares of the footwear maker's stock, valued at approximately $26,235,000. NIKE makes up about 1.8% of WT Asset Management Ltd's investment portfolio, making the stock its 17th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Spire Wealth Management grew its holdings in shares of NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after purchasing an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after buying an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in NIKE in the first quarter worth approximately $25,963,000. BROOKFIELD Corp ON boosted its stake in NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after buying an additional 175,000 shares in the last quarter. Finally, Olstein Capital Management L.P. boosted its stake in NIKE by 42.2% in the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker's stock worth $5,777,000 after buying an additional 27,000 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Price Performance

Shares of NIKE stock opened at $72.01 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company has a market cap of $106.34 billion, a PE ratio of 36.93, a P/E/G ratio of 2.75 and a beta of 1.29. The business has a 50 day moving average of $74.62 and a 200 day moving average of $67.31. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE's dividend payout ratio is currently 82.05%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NKE shares. Truist Financial reaffirmed a "buy" rating and issued a $85.00 target price on shares of NIKE in a research note on Wednesday. Barclays set a $70.00 target price on NIKE and gave the stock a "positive" rating in a research note on Wednesday. Jefferies Financial Group reiterated a "buy" rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Needham & Company LLC reiterated a "buy" rating and issued a $78.00 price objective on shares of NIKE in a research report on Wednesday. Finally, The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the company a "buy" rating in a research report on Thursday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $81.57.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

NIKE 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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