NIKE, Inc. $NKE Shares Acquired by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 10.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 162,931 shares of the footwear maker’s stock after acquiring an additional 14,798 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in NIKE were worth $10,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Gordian Capital Singapore Pte Ltd acquired a new position in NIKE during the third quarter worth $35,000. Accredited Wealth Management LLC lifted its holdings in NIKE by 268.6% in the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 376 shares during the last quarter. Matrix Trust Co lifted its holdings in NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 181 shares during the last quarter. Ares Financial Consulting LLC acquired a new position in NIKE in the fourth quarter valued at approximately $40,000. Finally, Strive Asset Management LLC acquired a new position in NIKE in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. The Goldman Sachs Group restated a “neutral” rating and set a $52.00 price target on shares of NIKE in a research note on Friday, June 5th. BNP Paribas Exane decreased their price target on NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 1st. DA Davidson cut NIKE from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $54.00 to $51.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.89.

Key Stories Impacting NIKE

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?

NIKE Stock Down 1.4%

Shares of NYSE NKE opened at $44.01 on Thursday. The stock has a market cap of $65.17 billion, a P/E ratio of 29.15, a PEG ratio of 1.93 and a beta of 1.12. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17. The business’s fifty day simple moving average is $44.39 and its 200-day simple moving average is $55.64.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $0.54 earnings per share. As a group, equities analysts predict that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Insider Buying and Selling

In related news, Director Timothy D. Cook acquired 25,000 shares of NIKE stock in a transaction dated Friday, April 10th. The shares were acquired at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Elliott Hill bought 23,660 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the acquisition, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 64,441 shares of company stock valued at $2,734,204 in the last three months. 0.80% of the stock is currently owned by insiders.

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).