NIKE, Inc. (NYSE:NKE) Shares Acquired by Y.D. More Investments Ltd

Key Points

• Y.D. More Investments Ltd increased its stake in NIKE, Inc. by 343.5% during the first quarter, owning 32,375 shares valued at approximately $2.06 million.
• NIKE's quarterly earnings exceeded expectations, reporting an EPS of $0.14 against a forecasted $0.12, and total revenue of $11.10 billion, surpassing analysts' predictions of $10.69 billion.
• Institutional ownership of NIKE stock is notably high at 64.25%, indicating strong investor confidence in the company.

Y.D. More Investments Ltd boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 343.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,375 shares of the footwear maker's stock after purchasing an additional 25,075 shares during the quarter. Y.D. More Investments Ltd's holdings in NIKE were worth $2,055,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NKE. Goldman Sachs Group Inc. lifted its stake in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of NIKE in the first quarter worth about $509,051,000. Vanguard Group Inc. lifted its stake in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. Capital World Investors lifted its stake in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after buying an additional 2,288,627 shares in the last quarter. Finally, Flossbach Von Storch SE raised its stake in NIKE by 24.0% during the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock worth $652,995,000 after purchasing an additional 1,988,547 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Down 0.9%

Shares of NYSE NKE traded down $0.64 during trading on Monday, reaching $73.55. 3,273,129 shares of the stock were exchanged, compared to its average volume of 17,074,549. The business's 50-day moving average price is $69.70 and its 200 day moving average price is $67.55. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $108.62 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is 74.07%.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on NKE. Berenberg Bank began coverage on shares of NIKE in a research note on Tuesday, April 15th. They set a "hold" rating and a $58.00 target price on the stock. Robert W. Baird lifted their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday, June 27th. Wall Street Zen cut shares of NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Finally, Piper Sandler boosted their price target on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

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.