Saturna Capital Corp Has $19.16 Million Stake in NIKE, Inc. $NKE

Saturna Capital Corp raised its position in shares of NIKE, Inc. (NYSE:NKE) by 93.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 300,730 shares of the footwear maker’s stock after buying an additional 144,900 shares during the quarter. Saturna Capital Corp’s holdings in NIKE were worth $19,160,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. J.Safra Asset Management Corp acquired a new position in shares of NIKE in the 4th quarter valued at about $29,000. Gordian Capital Singapore Pte Ltd acquired a new stake in NIKE during the third quarter worth approximately $35,000. Accredited Wealth Management LLC grew its stake in NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 376 shares during the period. Matrix Trust Co increased its holdings in NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 181 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in NIKE in the fourth quarter worth approximately $38,000. 64.25% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Robert Holmes Swan purchased 11,781 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The shares were bought at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the transaction, the director directly owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Elliott Hill purchased 23,660 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The shares were purchased at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer owned 265,247 shares of the company’s stock, valued at $11,211,990.69. The trade was a 9.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 64,441 shares of company stock valued at $2,734,204 over the last quarter. 0.80% of the stock is owned by insiders.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Negative Sentiment: RBC Capital Markets downgraded NIKE to Sector Perform from Outperform and cut its price target to $50 from $70, signaling less confidence in near-term upside despite World Cup-related demand hopes. Nike Could Get a World Cup Boost. But Stay Behind the Touchline, Analysts Say.
• Negative Sentiment: Citigroup also lowered its price target on NIKE to $47 from $53 and kept a Neutral rating, reinforcing the view that the stock may have limited short-term catalysts. Citigroup adjusts Nike’s PT to $47 from $53; maintains neutral rating
• Negative Sentiment: RBC said NIKE’s turnaround is progressing more slowly than expected, leaving the company with limited near-term catalysts even with the World Cup approaching. Nike Near-Term Catalysts Limited as Turnaround Progress Is Slower Than Expected, RBC Says
• Neutral Sentiment: Commentary around a possible World Cup boost for NIKE’s brand and sales is still speculative, and analysts are not yet treating it as enough to offset broader concerns about the turnaround. Should You Buy Nike Stock Ahead of the World Cup?

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research analyst reports. Robert W. Baird cut their price target on NIKE from $85.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of NIKE in a research note on Monday, April 13th. Guggenheim dropped their target price on shares of NIKE from $77.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Truist Financial cut their target price on shares of NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Finally, Sanford C. Bernstein restated a “buy” rating on shares of NIKE in a report on Monday, May 11th. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.89.

NIKE Stock Performance

Shares of NKE opened at $44.01 on Thursday. The firm has a market capitalization of $65.17 billion, a P/E ratio of 29.15, a P/E/G ratio of 1.93 and a beta of 1.12. NIKE, Inc. has a 52 week low of $41.35 and a 52 week high of $80.17. The stock has a 50 day moving average price of $44.39 and a two-hundred day moving average price of $55.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share. Equities analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.7%. NIKE’s dividend payout ratio (DPR) is 108.61%.

NIKE Profile

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).