Geode Capital Management LLC Grows Stake in NIKE, Inc. (NYSE:NKE)

Geode Capital Management LLC grew its position in NIKE, Inc. (NYSE:NKE) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,376,558 shares of the footwear maker’s stock after buying an additional 347,178 shares during the quarter. Geode Capital Management LLC owned 1.72% of NIKE worth $1,915,110,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. PDT Partners LLC bought a new stake in shares of NIKE in the 3rd quarter valued at about $229,000. Erste Asset Management GmbH purchased a new position in NIKE during the third quarter valued at approximately $1,688,000. Benjamin Edwards Inc. lifted its holdings in NIKE by 3,520.3% during the third quarter. Benjamin Edwards Inc. now owns 106,146 shares of the footwear maker’s stock worth $9,383,000 after buying an additional 103,214 shares during the period. Beacon Investment Advisory Services Inc. boosted its position in NIKE by 74.8% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 7,832 shares of the footwear maker’s stock valued at $692,000 after acquiring an additional 3,352 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its position in NIKE by 76.0% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 23,154 shares of the footwear maker’s stock valued at $2,047,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NKE shares. Stifel Nicolaus decreased their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Barclays decreased their price target 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. UBS Group cut their price objective on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Truist Financial decreased their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, Cfra Research raised shares of NIKE to a “moderate buy” rating 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $87.38.

Insider Buying and Selling

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

NIKE Price Performance

NYSE:NKE opened at $64.78 on Wednesday. The firm’s fifty day moving average is $73.84 and its two-hundred day moving average is $76.72. The firm has a market cap of $95.81 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 2.52 and a beta of 1.02. 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, Inc. has a one year low of $62.65 and a one year high of $98.04.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for 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 company’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

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.