Caisse Des Depots ET Consignations Takes Position in NIKE, Inc. (NYSE:NKE)

Caisse Des Depots ET Consignations acquired a new position in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,985 shares of the footwear maker’s stock, valued at approximately $150,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pacer Advisors Inc. increased 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 purchasing an additional 6,709,985 shares during the period. Bank of New York Mellon Corp increased 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 buying an additional 3,121,929 shares during the period. Assenagon Asset Management S.A. raised its position in shares of NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of NIKE in the 4th quarter worth approximately $156,438,000. Finally, State Street Corp boosted its holdings in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $72.83, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

NIKE Stock Up 0.2 %

Shares of NIKE stock opened at $65.87 on Friday. The stock has a 50-day simple moving average of $74.31 and a 200-day simple moving average of $77.05. NIKE, Inc. has a 52-week low of $64.95 and a 52-week high of $98.04. The firm has a market cap of $97.42 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, equities 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.43%. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NKE shares. Evercore ISI cut their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Truist Financial cut their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Stifel Nicolaus cut their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Finally, BMO Capital Markets lowered their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

NIKE 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.