NIKE, Inc. $NKE Holdings Raised by HS Management Partners LLC

HS Management Partners LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 39.1% in the 4th quarter, HoldingsChannel reports. The firm owned 328,000 shares of the footwear maker’s stock after acquiring an additional 92,125 shares during the quarter. NIKE makes up about 4.5% of HS Management Partners LLC’s portfolio, making the stock its 13th biggest position. HS Management Partners LLC’s holdings in NIKE were worth $20,897,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NKE. Harris Associates L P purchased a new stake in shares of NIKE during the second quarter valued at $621,525,000. Jennison Associates LLC lifted its holdings in shares of NIKE by 42.3% during the third quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker’s stock valued at $825,501,000 after purchasing an additional 3,518,666 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of NIKE by 129.4% during the second quarter. Ameriprise Financial Inc. now owns 5,849,636 shares of the footwear maker’s stock valued at $411,951,000 after purchasing an additional 3,299,155 shares during the last quarter. Flossbach Von Storch SE lifted its holdings in shares of NIKE by 29.3% during the fourth quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker’s stock valued at $812,514,000 after purchasing an additional 2,886,856 shares during the last quarter. Finally, Sustainable Growth Advisers LP purchased a new stake in shares of NIKE during the third quarter valued at $190,182,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 0.7%

NYSE:NKE opened at $44.70 on Friday. The firm has a market capitalization of $66.20 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 2.37 and a beta of 1.12. NIKE, Inc. has a 1-year low of $41.35 and a 1-year high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average price is $46.59 and its 200 day moving average price is $57.32.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. NIKE’s quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts forecast that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is presently 108.61%.

Insider Transactions at NIKE

In other news, CEO Elliott Hill bought 23,660 shares of the company’s stock in a transaction on Monday, April 13th. The shares were bought at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the transaction, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy D. Cook bought 25,000 shares of the company’s stock in a transaction on Friday, April 10th. The stock was purchased at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the transaction, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Williams Trading reduced their target price on NIKE from $80.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. DA Davidson lowered NIKE from a “buy” rating to a “neutral” rating and dropped their price target for the company from $72.00 to $46.00 in a research report on Thursday, April 2nd. UBS Group dropped their price target on NIKE from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Finally, Piper Sandler reissued a “neutral” rating and set a $50.00 price target (down from $60.00) on shares of NIKE in a research report on Friday, April 10th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, NIKE presently has an average rating of “Hold” and a consensus target price of $62.04.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).