Phoenix Financial Ltd. Increases Stock Position in NIKE, Inc. (NYSE:NKE)

Phoenix Financial Ltd. lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 92.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,198 shares of the footwear maker's stock after acquiring an additional 42,916 shares during the quarter. Phoenix Financial Ltd.'s holdings in NIKE were worth $6,751,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in NIKE in the fourth quarter worth $1,126,288,000. Wellington Management Group LLP raised its stake in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. boosted its stake in NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock worth $516,166,000 after buying an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of NIKE by 18.1% during 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 acquiring an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after buying an additional 2,416,601 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on NKE shares. Truist Financial decreased their target price on NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, March 21st. China Renaissance began coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating on the stock. DA Davidson raised shares of NIKE to a "strong-buy" rating in a research report on Monday, December 23rd. Citigroup downgraded shares of NIKE from a "buy" rating to a "neutral" rating and decreased their price target for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, UBS Group decreased their target price on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.19.

NIKE Stock Performance

Shares of NYSE NKE traded up $0.63 during mid-day 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 current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a market capitalization of $81.38 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 2.52 and a beta of 1.15. The stock's 50-day moving average price is $70.03 and its 200-day moving average price is $74.83.

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

NIKE Announces Dividend

The business also recently declared 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 2.91%. NIKE's dividend payout ratio (DPR) is currently 53.16%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

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.