NIKE, Inc. (NYSE:NKE) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in NIKE, Inc. (NYSE:NKE) by 7,238.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,627,424 shares of the footwear maker’s stock after purchasing an additional 1,605,248 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.11% of NIKE worth $123,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at $28,000. Caitlin John LLC grew its position in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Roxbury Financial LLC purchased a new stake in NIKE during the fourth quarter worth about $30,000. LFA Lugano Financial Advisors SA lifted its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in shares of NIKE in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $63.32 on Monday. NIKE, Inc. has a one year low of $62.76 and a one year high of $98.04. The stock has a market capitalization of $93.65 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.52 and a beta of 1.02. The company has a 50-day simple moving average of $74.16 and a 200-day simple moving average of $76.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the prior year, the business earned $0.98 EPS. The firm’s revenue was down 9.1% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.05 EPS for the current 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 given a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reduced their target price on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Friday, March 21st. Bank of America lowered their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. BMO Capital Markets reduced their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Needham & Company LLC lowered their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Fifteen 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.38.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated 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 sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

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.