PFW Advisors LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

PFW Advisors LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,042 shares of the footwear maker’s stock, valued at approximately $828,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Renaissance Technologies LLC raised its position 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 buying an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC raised its position in shares of NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock valued at $23,458,000 after buying an additional 90,000 shares during the last quarter. Janus Henderson Group PLC raised its position 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 buying an additional 463,470 shares during the last quarter. Markel Group Inc. raised its position in shares of NIKE by 0.8% in the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker’s stock valued at $32,720,000 after buying an additional 3,500 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock valued at $18,042,000 after buying an additional 7,536 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NKE. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Piper Sandler lowered their target price on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, April 11th. UBS Group lowered their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, March 21st. BMO Capital Markets lowered their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Robert W. Baird lowered their target price on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.26.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

NIKE Price Performance

Shares of NKE stock opened at $62.82 on Friday. The company has a market capitalization 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. The firm has a fifty day simple moving average of $58.86 and a 200-day simple moving average of $69.19. 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 twelve month low of $52.28 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings results 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. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

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.