NIKE, Inc. (NYSE:NKE) Position Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 351.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,991,519 shares of the footwear maker’s stock after buying an additional 1,550,611 shares during the quarter. Renaissance Technologies LLC owned approximately 0.13% of NIKE worth $150,101,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Annapolis Financial Services LLC lifted its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the last quarter. True Wealth Design LLC lifted its position in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Core Wealth Advisors Inc. boosted its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the period. Frank Rimerman Advisors LLC bought a new position in NIKE in the fourth quarter worth about $33,000. Finally, Gold Investment Management Ltd. acquired a new position in NIKE in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NKE shares. Stifel Nicolaus cut their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Truist Financial cut their price objective on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Bank of America decreased their target price on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, June 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 price objective (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Finally, Telsey Advisory Group cut their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Stock Up 0.8 %

NIKE stock opened at $79.01 on Monday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The firm has a market cap of $118.46 billion, a PE ratio of 21.18, a P/E/G ratio of 2.08 and a beta of 1.02. The firm’s 50 day moving average price is $77.23 and its two-hundred day moving average price is $87.64.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, research analysts predict that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by company insiders.

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.