Fred Alger Management LLC lessened its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 8.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,367 shares of the footwear maker’s stock after selling 524 shares during the period. Fred Alger Management LLC’s holdings in NIKE were worth $408,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Capricorn Fund Managers Ltd acquired a new position in NIKE during the 4th quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares in the last quarter. FNY Investment Advisers LLC boosted its stake in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the period. Renaissance Technologies LLC grew its holdings in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Finally, Mirador Capital Partners LP grew its holdings in shares of NIKE by 69.8% in the fourth quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock valued at $5,523,000 after purchasing an additional 30,011 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.
Insiders Place Their Bets
In related news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s 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 completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
NIKE Price Performance
NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.
NIKE Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is 53.16%.
Wall Street Analyst Weigh In
NKE has been the subject of several recent research reports. Citigroup decreased their price target on shares of NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. China Renaissance began coverage on NIKE in a research note on Wednesday, March 19th. They set a “hold” rating for the company. The Goldman Sachs Group reduced their price target on NIKE from $88.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Williams Trading lowered their price objective on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Finally, Piper Sandler reduced their target price on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.48.
View Our Latest Analysis on NKE
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.
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