Geode Capital Management LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Geode Capital Management LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,376,558 shares of the footwear maker’s stock after acquiring an additional 347,178 shares during the quarter. Geode Capital Management LLC’s holdings in NIKE were worth $1,915,110,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in NIKE in the 4th quarter valued at about $28,000. Caitlin John LLC raised its holdings in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of NIKE in the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA boosted its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of NIKE during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on 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 directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NKE shares. Stifel Nicolaus decreased their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. UBS Group decreased their price target on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Morgan Stanley lowered their price target on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Truist Financial cut their price objective on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. lowered their target price on NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, March 21st. 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 stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Stock Up 2.0 %

NIKE stock opened at $64.78 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a fifty-two week low of $62.65 and a fifty-two week high of $98.04. The stock has a 50-day simple moving average of $73.84 and a 200-day simple moving average of $76.72. The company has a market capitalization of $95.81 billion, a P/E ratio of 19.99, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business posted $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. Equities research 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 was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.47%. NIKE’s payout ratio is 53.16%.

NIKE Company Profile

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.