Pictet Asset Management Holding SA Increases Position in NIKE, Inc. (NYSE:NKE)

Pictet Asset Management Holding SA boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 0.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,676,133 shares of the footwear maker’s stock after acquiring an additional 6,998 shares during the quarter. Pictet Asset Management Holding SA’s holdings in NIKE were worth $126,833,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Norges Bank purchased a new position in shares of NIKE in the fourth quarter worth about $1,126,288,000. Pacer Advisors Inc. raised its position in NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after buying an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in NIKE by 18.1% during 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 during the period. Assenagon Asset Management S.A. boosted its holdings in shares of NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after acquiring an additional 2,357,745 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of NIKE in the 4th quarter valued at $156,438,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NKE. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Barclays dropped their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company reduced their price target on NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Truist Financial decreased 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. Finally, Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

Insider Buying and Selling

In other 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 represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

NIKE Stock Down 3.8 %

Shares of NYSE NKE opened at $63.32 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $74.16 and a 200 day moving average of $76.94. NIKE, Inc. has a 12-month low of $63.14 and a 12-month high of $98.04. The stock has a market cap of $93.65 billion, a PE ratio of 19.54, a P/E/G 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 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

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

About NIKE

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.