52,001 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Rule One Partners LLC

Rule One Partners LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 52,001 shares of the footwear maker's stock, valued at approximately $3,935,000. NIKE makes up about 1.5% of Rule One Partners LLC's investment portfolio, making the stock its 6th largest position.

Several other large investors have also recently made changes to their positions in the business. State Street Corp lifted its stake in NIKE by 3.3% during the 3rd 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 during the period. Wellington Management Group LLP lifted its position in NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC lifted its position in NIKE by 1.0% during the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the period. Fisher Asset Management LLC boosted its holdings in NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock worth $910,801,000 after purchasing an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in NIKE by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker's stock worth $760,716,000 after purchasing an additional 117,187 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company's stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on NIKE from $77.00 to $73.00 and set a "neutral" rating on the stock in a research note on Monday, December 2nd. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a "hold" rating on the stock in a research report on Friday, December 20th. Bank of America reduced their price target on shares of NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Finally, Barclays decreased their price target on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and an average price target of $89.96.

NIKE Price Performance

NYSE:NKE opened at $78.28 on Friday. The firm has a market capitalization of $115.79 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 2.44 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. The business has a 50 day simple moving average of $75.55 and a 200-day simple moving average of $77.95. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business earned $1.03 EPS. The business's revenue was down 7.7% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.09 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a positive change from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE's dividend payout ratio (DPR) is currently 49.38%.

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.

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