Manchester Global Management UK Ltd Invests $37.66 Million in NIKE, Inc. (NYSE:NKE)

Manchester Global Management UK Ltd acquired a new position in NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 497,640 shares of the footwear maker's stock, valued at approximately $37,656,000. NIKE comprises approximately 5.0% of Manchester Global Management UK Ltd's holdings, making the stock its 5th biggest position.

Other large investors have also modified their holdings of the company. Tidal Investments LLC grew its position in NIKE by 65.4% in the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker's stock worth $9,332,000 after purchasing an additional 41,752 shares during the last quarter. Denver PWM LLC grew its position in NIKE by 9.7% during the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker's stock worth $228,000 after buying an additional 227 shares in the last quarter. Confluence Investment Management LLC increased its stake in NIKE by 6.3% during the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker's stock valued at $18,621,000 after acquiring an additional 14,592 shares during the period. Cacti Asset Management LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $9,987,000. Finally, GAMMA Investing LLC lifted its position in shares of NIKE by 1.0% in the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock worth $1,136,000 after acquiring an additional 150 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 1.4 %

Shares of NYSE:NKE traded down $0.82 during mid-day trading on Friday, reaching $57.66. The stock had a trading volume of 17,132,246 shares, compared to its average volume of 14,357,099. The firm has a 50 day simple moving average of $67.15 and a two-hundred day simple moving average of $73.17. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The firm has a market cap of $85.29 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. 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 (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 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 company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the business posted $0.98 earnings per share. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.77%. NIKE's payout ratio is 53.16%.

Wall Street Analyst Weigh In

Several research analysts recently commented on NKE shares. Truist Financial reduced 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. Piper Sandler lowered their target price on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. China Renaissance initiated coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a "hold" rating for the company. Needham & Company LLC lowered their price objective on NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Finally, Dbs Bank raised NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Sixteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $82.81.

Insiders Place Their Bets

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 shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now 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 filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.