Assenagon Asset Management S.A. Increases Holdings in NIKE, Inc. (NYSE:NKE)

Assenagon Asset Management S.A. lifted its position in NIKE, Inc. (NYSE:NKE) by 358.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,015,267 shares of the footwear maker’s stock after purchasing an additional 2,357,745 shares during the period. Assenagon Asset Management S.A.’s holdings in NIKE were worth $228,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the third quarter valued at about $30,000. VitalStone Financial LLC increased its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Dunhill Financial LLC lifted its stake in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Ecofi Investissements SA purchased a new position in shares of NIKE in the second quarter worth approximately $49,000. Finally, Riverview Trust Co bought a new stake in NIKE during the third quarter valued at approximately $52,000. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $71.09 on Wednesday. The firm has a market cap of $105.15 billion, a PE ratio of 20.37, a PEG ratio of 1.89 and a beta of 1.02. The stock has a 50 day moving average of $76.05 and a 200 day moving average of $78.06. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.53 and a 12 month high of $107.43.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. NIKE’s payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent research reports. Truist Financial decreased their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Stifel Nicolaus cut their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Robert W. Baird decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.96.

Insider Activity

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

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.