Magnus Financial Group LLC Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Magnus Financial Group LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,870 shares of the footwear maker’s stock after purchasing an additional 690 shares during the period. Magnus Financial Group LLC’s holdings in NIKE were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in NKE. Renaissance Technologies LLC grew its holdings in 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 buying an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC boosted its position in shares of NIKE by 40.9% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock valued at $23,458,000 after acquiring an additional 90,000 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock valued at $460,160,000 after purchasing an additional 463,470 shares during the period. Markel Group Inc. increased its position in NIKE by 0.8% during the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker’s stock worth $32,720,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its stake in NIKE by 3.3% during the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock worth $18,042,000 after purchasing an additional 7,536 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 0.2%

NYSE:NKE opened at $62.82 on Friday. The stock has a fifty day moving average price of $58.86 and a 200 day moving average price of $69.22. 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, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The firm has a market cap of $92.92 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. NIKE’s dividend payout ratio is currently 53.16%.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on NKE. Piper Sandler dropped their price target on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Cfra Research upgraded NIKE to a “moderate buy” rating in a report on Friday, March 21st. Telsey Advisory Group cut their target price on NIKE from $80.00 to $70.00 and set a “market perform” rating for the company in a research note on Tuesday, May 6th. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a report on Friday, May 23rd. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.26.

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.