NIKE, Inc. (NYSE:NKE) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 31.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,809 shares of the footwear maker’s stock after purchasing an additional 17,421 shares during the period. NEOS Investment Management LLC’s holdings in NIKE were worth $5,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. Harvest Fund Management Co. Ltd grew its position in shares of NIKE by 599.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 797 shares of the footwear maker’s stock valued at $70,000 after purchasing an additional 683 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in NIKE by 35.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,300 shares of the footwear maker’s stock worth $9,220,000 after buying an additional 27,400 shares during the last quarter. CreativeOne Wealth LLC increased its stake in NIKE by 13.5% during the 3rd quarter. CreativeOne Wealth LLC now owns 21,978 shares of the footwear maker’s stock worth $1,943,000 after buying an additional 2,612 shares in the last quarter. Providence Capital Advisors LLC raised its holdings in shares of NIKE by 29.3% during the third quarter. Providence Capital Advisors LLC now owns 78,784 shares of the footwear maker’s stock valued at $6,965,000 after acquiring an additional 17,871 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of NIKE by 4.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,318 shares of the footwear maker’s stock valued at $48,471,000 after acquiring an additional 24,614 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NKE shares. Robert W. Baird reduced their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Cfra Research upgraded shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Needham & Company LLC lowered their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Stifel Nicolaus cut their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $87.38.

NIKE Price Performance

NKE opened at $65.87 on Friday. The stock’s 50-day moving average price is $74.31 and its 200 day moving average price is $77.05. NIKE, Inc. has a 12-month low of $64.95 and a 12-month high of $98.04. The firm has a market cap of $97.42 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.52 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is currently 53.16%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % 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. 1.10% of the stock is currently owned by insiders.

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.