KCM Investment Advisors LLC increased its position in shares of Nike Inc (NYSE:NKE) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 188,648 shares of the footwear maker’s stock after purchasing an additional 859 shares during the quarter. KCM Investment Advisors LLC’s holdings in Nike were worth $19,112,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in Nike by 36.5% in the fourth quarter. Alliancebernstein L.P. now owns 15,559,748 shares of the footwear maker’s stock valued at $1,576,358,000 after purchasing an additional 4,159,675 shares during the last quarter. FMR LLC increased its position in shares of Nike by 4.5% in the fourth quarter. FMR LLC now owns 30,077,288 shares of the footwear maker’s stock valued at $3,047,131,000 after buying an additional 1,302,351 shares in the last quarter. Man Group plc raised its stake in shares of Nike by 110.1% during the 3rd quarter. Man Group plc now owns 2,107,158 shares of the footwear maker’s stock worth $197,887,000 after buying an additional 1,104,295 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of Nike by 49.2% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,035,395 shares of the footwear maker’s stock worth $307,516,000 after buying an additional 1,001,251 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its stake in shares of Nike by 999.0% during the 4th quarter. Marshall Wace North America L.P. now owns 986,476 shares of the footwear maker’s stock worth $99,939,000 after buying an additional 896,715 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:NKE traded up $7.63 during midday trading on Thursday, reaching $86.64. The company’s stock had a trading volume of 694,911 shares, compared to its average volume of 15,216,662. The firm has a market cap of $112.64 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 2.28 and a beta of 0.84. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.66. Nike Inc has a 1 year low of $60.00 and a 1 year high of $105.62. The business has a 50 day moving average price of $89.43 and a 200 day moving average price of $93.68.
Nike (NYSE:NKE) last released its earnings results on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.19. Nike had a return on equity of 51.28% and a net margin of 10.46%. The firm had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.56 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Nike Inc will post 2.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, February 28th. Nike’s dividend payout ratio (DPR) is 39.36%.
A number of equities research analysts recently commented on NKE shares. Cowen reissued an “outperform” rating and issued a $85.00 price objective (up from $75.00) on shares of Nike in a research note on Wednesday. Oppenheimer initiated coverage on shares of Nike in a research report on Thursday, February 6th. They set a “buy” rating and a $115.00 target price for the company. Piper Sandler upped their price target on shares of Nike from to in a report on Wednesday. Wedbush initiated coverage on shares of Nike in a research report on Wednesday. They issued an “outperform” rating and a $93.00 price target on the stock. Finally, Credit Suisse Group increased their price target on shares of Nike from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $97.79.
In related news, EVP Monique S. Matheson sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $105.00, for a total value of $892,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elliott Hill sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $102.50, for a total transaction of $9,225,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 271,916 shares of company stock valued at $27,686,864. Corporate insiders own 3.80% of the company’s stock.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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