Infusive Asset Management Inc. increased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 143.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 104,171 shares of the footwear maker's stock after purchasing an additional 61,351 shares during the quarter. NIKE accounts for 3.5% of Infusive Asset Management Inc.'s holdings, making the stock its 10th biggest holding. Infusive Asset Management Inc.'s holdings in NIKE were worth $7,883,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Capital International Ltd. CA lifted its stake in shares of NIKE by 1.7% during the 4th quarter. Capital International Ltd. CA now owns 166,995 shares of the footwear maker's stock worth $12,637,000 after acquiring an additional 2,757 shares during the last quarter. Cadence Bank grew its holdings in shares of NIKE by 36.4% in the fourth quarter. Cadence Bank now owns 75,428 shares of the footwear maker's stock worth $5,708,000 after purchasing an additional 20,146 shares during the last quarter. Capital Group Investment Management PTE. LTD. increased its stake in NIKE by 1.8% in the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 35,658 shares of the footwear maker's stock worth $2,698,000 after buying an additional 623 shares during the period. Capital International Sarl lifted its holdings in NIKE by 9.9% during the 4th quarter. Capital International Sarl now owns 254,888 shares of the footwear maker's stock valued at $19,287,000 after buying an additional 22,869 shares in the last quarter. Finally, Arrow Capital Pty Ltd bought a new position in NIKE in the 4th quarter worth about $3,027,000. Hedge funds and other institutional investors own 64.25% of the company's stock.
NIKE Price Performance
Shares of NYSE NKE traded up $1.77 during midday trading on Tuesday, hitting $57.89. The stock had a trading volume of 7,880,292 shares, compared to its average volume of 14,197,735. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a market capitalization of $85.63 billion, a PE ratio of 17.84, a P/E/G ratio of 2.52 and a beta of 1.15. The stock has a 50 day simple moving average of $68.07 and a 200-day simple moving average of $73.55.
NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the firm posted $0.98 earnings per share. The company's revenue for the quarter was down 9.1% on a year-over-year basis. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.
NIKE Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.76%. NIKE's payout ratio is 53.16%.
Insider Transactions at NIKE
In related news, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction on Friday, April 4th. The shares were bought 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 directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on NKE shares. 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. Guggenheim reaffirmed a "buy" rating and issued a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. BMO Capital Markets cut their target price on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Telsey Advisory Group reissued a "market perform" rating and set a $80.00 price objective on shares of NIKE in a report on Monday, March 17th. Finally, Wells Fargo & Company dropped their target price on NIKE from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Sixteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $83.19.
Check Out Our Latest Research Report on NKE
NIKE Profile
(
Free Report)
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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