NEOS Investment Management LLC Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

NEOS Investment Management LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 31.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,809 shares of the footwear maker’s stock after buying an additional 17,421 shares during the quarter. NEOS Investment Management LLC’s holdings in NIKE were worth $5,509,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp boosted its stake 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 worth $5,140,796,000 after acquiring an additional 1,862,021 shares during the period. Wellington Management Group LLP lifted its holdings in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC lifted its holdings in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in NIKE by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,205,753 shares of the footwear maker’s stock valued at $696,599,000 after buying an additional 603,219 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE:NKE opened at $65.87 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $64.95 and a twelve month high of $98.04. The company’s 50 day moving average is $74.31 and its 200 day moving average is $77.05. The company has a market cap of $97.42 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter last year, the company posted $0.98 earnings per share. The firm’s revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.43%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’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 completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on NKE shares. Barclays dropped their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Truist Financial lowered their target price on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Stifel Nicolaus reduced their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. dropped their price target on NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.38.

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.