Geode Capital Management LLC Buys 233,925 Shares of NIKE, Inc. $NKE

Geode Capital Management LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 0.9% in the fourth quarter, Holdings Channel reports. The firm owned 26,442,879 shares of the footwear maker’s stock after acquiring an additional 233,925 shares during the quarter. Geode Capital Management LLC’s holdings in NIKE were worth $1,677,251,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NKE. Guerra Advisors Inc bought a new position in NIKE in the third quarter valued at approximately $34,000. Gordian Capital Singapore Pte Ltd bought a new position in NIKE in the third quarter valued at approximately $35,000. Accredited Wealth Management LLC grew its stake 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 purchasing an additional 376 shares in the last quarter. Matrix Trust Co grew its stake 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 purchasing an additional 181 shares in the last quarter. Finally, Ares Financial Consulting LLC bought a new position in NIKE in the fourth quarter valued at approximately $40,000. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on NKE shares. China Renaissance decreased their price target on NIKE from $74.60 to $50.30 and set a “hold” rating for the company in a research note on Thursday, April 2nd. CICC Research downgraded NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $69.00 to $58.00 in a research note on Monday, April 6th. BTIG Research decreased their price target on NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Berenberg Bank restated a “neutral” rating on shares of NIKE in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein restated a “buy” rating on shares of NIKE in a research note on Monday, May 11th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Hold” and a consensus target price of $62.04.

NIKE Stock Performance

NKE opened at $47.40 on Friday. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17. The stock has a market cap of $70.20 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 2.44 and a beta of 1.12. The business has a 50 day moving average of $45.89 and a 200-day moving average of $56.84. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period last year, the firm posted $0.54 earnings per share. The business’s revenue was up .1% on a year-over-year basis. On average, equities research analysts expect that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

Insiders Place Their Bets

In other NIKE news, CEO Elliott Hill acquired 23,660 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was bought at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. This represents a 9.79% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 purchased at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the acquisition, the director owned 55,074 shares in the company, valued at $2,337,340.56. The trade was a 27.21% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 64,441 shares of company stock valued at $2,734,204. Corporate insiders own 0.80% of the company’s stock.

NIKE Company 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).