One68 Global Capital LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

One68 Global Capital LLC purchased a new position in NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,500 shares of the footwear maker's stock, valued at approximately $1,324,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of NIKE during the fourth quarter worth $1,126,288,000. Wellington Management Group LLP lifted its holdings in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock worth $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of NIKE by 1,302.7% in the 4th 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. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities 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. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Bank of America cut their price target on shares of NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Guggenheim restated a "buy" rating and issued a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada cut their target price on NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research report on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $81.15.

NIKE Price Performance

NIKE stock traded up $1.89 during mid-day trading on Friday, reaching $58.65. The company had a trading volume of 14,697,524 shares, compared to its average volume of 14,529,281. The stock's 50-day simple moving average is $64.63 and its 200-day simple moving average is $72.16. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. 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 $86.75 billion, a P/E ratio of 18.10, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE's quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. NIKE's dividend payout ratio is presently 53.16%.

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.