PineStone Asset Management Inc. Raises Stake in NIKE, Inc. (NYSE:NKE)

PineStone Asset Management Inc. lifted its position in shares of NIKE, Inc. (NYSE:NKEFree Report) by 14.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,968,436 shares of the footwear maker’s stock after buying an additional 246,404 shares during the quarter. NIKE comprises 2.3% of PineStone Asset Management Inc.’s holdings, making the stock its 21st biggest position. PineStone Asset Management Inc.’s holdings in NIKE were worth $213,713,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Oliver Luxxe Assets LLC grew its holdings in NIKE by 2.9% in the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after purchasing an additional 1,041 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of NIKE during the 4th quarter worth $8,034,000. Financial Gravity Asset Management Inc. increased its holdings in shares of NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after buying an additional 176,476 shares during the last quarter. Brown Advisory Inc. raised its position in shares of NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after buying an additional 192,752 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in NIKE by 10,184.3% in the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after acquiring an additional 384,357 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays cut their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Wells Fargo & Company cut their price target on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Jefferies Financial Group decreased their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Sanford C. Bernstein cut their target price on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Finally, Truist Financial restated a “hold” rating and set a $111.00 target price on shares of NIKE in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.26.

Read Our Latest Research Report on NKE

NIKE Stock Up 0.4 %

Shares of NYSE:NKE traded up $0.41 during midday trading on Friday, reaching $92.18. The company had a trading volume of 12,019,568 shares, compared to its average volume of 7,993,296. 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’s fifty day moving average price is $94.00 and its 200-day moving average price is $102.37. The stock has a market capitalization of $139.13 billion, a P/E ratio of 27.11, a PEG ratio of 1.78 and a beta of 1.07. NIKE, Inc. has a one year low of $88.66 and a one year high of $123.39.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

NIKE Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKEFree Report).

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.