Headlands Technologies LLC Buys 20,714 Shares of NIKE, Inc. (NYSE:NKE)

Headlands Technologies LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 212.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,454 shares of the footwear maker's stock after purchasing an additional 20,714 shares during the period. Headlands Technologies LLC's holdings in NIKE were worth $2,304,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after acquiring an additional 347,178 shares during the period. Franklin Resources Inc. grew its stake in NIKE by 22.8% during the fourth quarter. Franklin Resources Inc. now owns 7,628,256 shares of the footwear maker's stock valued at $577,230,000 after acquiring an additional 1,418,839 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its position in shares of NIKE by 1.4% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 1,662,284 shares of the footwear maker's stock worth $125,414,000 after buying an additional 22,833 shares in the last quarter. Summit Financial LLC boosted its stake in NIKE by 27.8% during the fourth quarter. Summit Financial LLC now owns 13,361 shares of the footwear maker's stock valued at $1,016,000 after buying an additional 2,908 shares during the period. Finally, AIA Group Ltd raised its position in NIKE by 20.2% during the fourth quarter. AIA Group Ltd now owns 63,800 shares of the footwear maker's stock valued at $4,828,000 after purchasing an additional 10,723 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NKE shares. Jefferies Financial Group upgraded NIKE from a "hold" rating to a "buy" rating and increased their price objective for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Truist Financial decreased their price objective on NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a report on Friday, March 21st. Wells Fargo & Company lowered their price objective on NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. BMO Capital Markets dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Finally, Robert W. Baird lowered their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.38.

NIKE Price Performance

NYSE:NKE traded up $0.28 during trading hours on Wednesday, hitting $65.04. 10,774,673 shares of the stock traded hands, compared to its average volume of 12,953,855. The company has a market cap of $96.20 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1 year low of $60.09 and a 1 year high of $98.04. The stock has a 50 day moving average price of $73.84 and a 200 day moving average price of $76.72. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 EPS. NIKE's revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.46%. NIKE's payout ratio is 53.16%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company's stock.

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.