48,800 Shares in NIKE, Inc. (NYSE:NKE) Bought by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, Holdings Channel.com reports. The firm purchased 48,800 shares of the footwear maker’s stock, valued at approximately $3,693,000.

Several other large investors also recently bought and sold shares of NKE. Weiss Asset Management LP purchased a new stake in shares of NIKE in the third quarter valued at $5,594,000. Insigneo Advisory Services LLC increased its stake in shares of NIKE by 14.8% during the third quarter. Insigneo Advisory Services LLC now owns 10,442 shares of the footwear maker’s stock valued at $923,000 after buying an additional 1,345 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of NIKE by 14.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 395,123 shares of the footwear maker’s stock valued at $34,929,000 after purchasing an additional 48,473 shares in the last quarter. Hendershot Investments Inc. lifted its holdings in NIKE by 0.6% during the third quarter. Hendershot Investments Inc. now owns 86,831 shares of the footwear maker’s stock worth $7,676,000 after buying an additional 491 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of NIKE during the 3rd quarter worth $81,676,000. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, March 21st. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Needham & Company LLC reduced their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Barclays dropped their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fifteen research 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 stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $87.38.

NIKE Trading Up 2.9 %

Shares of NKE stock opened at $57.17 on Friday. NIKE, Inc. has a fifty-two week low of $52.50 and a fifty-two week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock’s fifty day moving average is $72.96 and its two-hundred day moving average is $76.30. The firm has a market capitalization of $84.57 billion, a P/E ratio of 17.65, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping 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 firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the firm posted $0.98 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.80%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

NIKE Company 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.