24,195 Shares in NIKE, Inc. (NYSE:NKE) Acquired by Yong Rong HK Asset Management Ltd

Yong Rong HK Asset Management Ltd bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,195 shares of the footwear maker's stock, valued at approximately $575,000. NIKE accounts for about 0.1% of Yong Rong HK Asset Management Ltd's investment portfolio, making the stock its 24th biggest position.

Several other hedge funds also recently made changes to their positions in the business. Spire Wealth Management increased its stake in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after acquiring an additional 416 shares during the last quarter. Renaissance Technologies LLC increased its stake in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after acquiring an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC increased its stake in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after acquiring an additional 90,000 shares during the last quarter. Janus Henderson Group PLC grew its position in NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after acquiring an additional 463,470 shares during the last quarter. Finally, Markel Group Inc. raised its stake in NIKE by 0.8% during the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock worth $32,720,000 after acquiring an additional 3,500 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NKE has been the topic of a number of research reports. Stifel Nicolaus decreased their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, June 27th. Piper Sandler boosted their target price on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, June 27th. UBS Group assumed coverage on shares of NIKE in a report on Sunday. They issued a "buy" rating on the stock. Finally, Truist Financial dropped their price objective on shares of NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.19.

NIKE Stock Up 0.2%

NKE stock traded up $0.18 during trading on Monday, reaching $76.57. The stock had a trading volume of 17,282,720 shares, compared to its average volume of 15,363,192. The company has a market capitalization of $113.26 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 2.77 and a beta of 1.25. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company's 50 day moving average is $62.36 and its two-hundred day moving average is $67.35.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. NIKE's revenue for the quarter was down 11.9% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

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.