Rovida Advisors Inc. Takes $13.25 Million Position in NIKE, Inc. (NYSE:NKE)

Rovida Advisors Inc. purchased a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 175,000 shares of the footwear maker’s stock, valued at approximately $13,246,000. NIKE makes up about 10.3% of Rovida Advisors Inc.’s holdings, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Range Financial Group LLC purchased a new position in shares of NIKE in the 4th quarter valued at about $642,000. Cacti Asset Management LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in shares of NIKE in the fourth quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its stake in shares of NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after buying an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC lifted its position in shares of NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NKE shares. Barclays reduced their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Guggenheim reiterated a “buy” rating and issued a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Finally, Truist Financial dropped their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Trading Down 1.1 %

Shares of NIKE stock opened at $66.64 on Wednesday. NIKE, Inc. has a 12-month low of $65.17 and a 12-month high of $98.04. The stock has a market cap of $98.57 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.52 and a beta of 1.02. 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 fifty day simple moving average of $74.52 and a 200-day simple moving average of $77.21.

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. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.40%. NIKE’s dividend payout ratio (DPR) is presently 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.