Harvest Fund Management Co. Ltd Raises Holdings in NIKE, Inc. (NYSE:NKE)

Harvest Fund Management Co. Ltd boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 279.6% in the 4th quarter, HoldingsChannel reports. The fund owned 3,280 shares of the footwear maker’s stock after buying an additional 2,416 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in NIKE were worth $356,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Mizuho Securities Co. Ltd. boosted its holdings in NIKE by 100.0% during the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after acquiring an additional 170 shares during the period. NewSquare Capital LLC lifted its holdings in NIKE by 372.0% in the 4th quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock worth $38,000 after buying an additional 279 shares during the period. GAMMA Investing LLC purchased a new stake in NIKE in the 4th quarter worth approximately $1,077,000. Lorne Steinberg Wealth Management Inc. purchased a new stake in NIKE in the 4th quarter worth approximately $2,163,000. Finally, Parkside Financial Bank & Trust increased its position in NIKE by 3.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 8,395 shares of the footwear maker’s stock valued at $911,000 after buying an additional 299 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NKE stock traded up $0.62 during trading hours on Wednesday, hitting $94.64. The stock had a trading volume of 6,486,783 shares, compared to its average volume of 9,522,686. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock has a market capitalization of $142.85 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.82 and a beta of 1.08. The stock’s 50-day moving average price is $97.63 and its two-hundred day moving average price is $103.44. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Equities analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. NIKE’s dividend payout ratio is currently 43.53%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NKE shares. HSBC reduced their price objective on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Piper Sandler reduced their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Telsey Advisory Group reduced their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Finally, Morgan Stanley reduced their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

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.