NIKE, Inc. (NYSE:NKE) Shares Bought by Evergreen Capital Management LLC

Evergreen Capital Management LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 237,199 shares of the footwear maker’s stock after buying an additional 7,536 shares during the period. Evergreen Capital Management LLC’s holdings in NIKE were worth $18,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in NIKE in the 4th quarter worth about $1,126,288,000. Wellington Management Group LLP increased its position in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after acquiring an additional 6,709,985 shares during the period. Bank of New York Mellon Corp lifted its position in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after purchasing an additional 2,416,601 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NKE shares. Piper Sandler cut their target price on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Telsey Advisory Group reissued a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. BMO Capital Markets decreased their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Bank of America decreased their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Sixteen equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.15.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s 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 document filed with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE Trading Down 1.0 %

Shares of NKE stock opened at $54.84 on Wednesday. The company has a market capitalization of $81.11 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $69.31 and a 200 day moving average price of $74.45.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued 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 2.92%. NIKE’s dividend payout ratio is 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.