NIKE, Inc. (NYSE:NKE) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 7,238.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,627,424 shares of the footwear maker’s stock after buying an additional 1,605,248 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in NIKE were worth $123,147,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in NIKE in the 4th quarter valued at approximately $28,000. Caitlin John LLC increased its position in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of NIKE during the 4th quarter worth $30,000. LFA Lugano Financial Advisors SA boosted its position in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in NIKE in the 4th quarter valued at about $30,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Needham & Company LLC reduced their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Cfra Research upgraded NIKE to a “moderate buy” rating in a report on Friday, March 21st. Truist Financial cut their price target on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Royal Bank of Canada decreased their price objective on NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.38.

NIKE Trading Down 3.8 %

Shares of NKE stock opened at $63.32 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a fifty-two week low of $62.76 and a fifty-two week high of $98.04. The firm’s 50 day moving average price is $74.16 and its two-hundred day moving average price is $76.92. The stock has a market cap of $93.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE 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.