Locust Wood Capital Advisers LLC Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Locust Wood Capital Advisers LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 111.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159,902 shares of the footwear maker's stock after purchasing an additional 612,421 shares during the period. NIKE accounts for approximately 3.0% of Locust Wood Capital Advisers LLC's holdings, making the stock its 17th largest holding. Locust Wood Capital Advisers LLC owned approximately 0.08% of NIKE worth $87,770,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of NIKE in the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP grew its position in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the period. Pacer Advisors Inc. increased its stake in shares of NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock valued at $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the period. Institutional investors own 64.25% of the company's stock.

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Insider Transactions at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction that occurred on 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. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several research analyst reports. 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 report on Friday, December 20th. Royal Bank of Canada cut their price objective on shares of NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research report on Friday, March 21st. Piper Sandler dropped their target price on NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, Robert W. Baird reduced their price objective on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $86.19.

NIKE Stock Up 1.2 %

NKE traded up $0.63 during midday trading on Monday, hitting $55.02. The company had a trading volume of 9,621,681 shares, compared to its average volume of 14,021,932. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock's 50 day moving average price is $70.03 and its 200 day moving average price is $74.83. The company has a market capitalization of $81.38 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's payout ratio is currently 53.16%.

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.