Infusive Asset Management Inc. Buys 61,351 Shares of NIKE, Inc. (NYSE:NKE)

Infusive Asset Management Inc. boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 143.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,171 shares of the footwear maker's stock after purchasing an additional 61,351 shares during the quarter. NIKE comprises about 3.5% of Infusive Asset Management Inc.'s investment portfolio, making the stock its 10th largest holding. Infusive Asset Management Inc.'s holdings in NIKE were worth $7,883,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new stake in NIKE during the 4th quarter worth approximately $28,000. Caitlin John LLC increased its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of NIKE during the fourth quarter worth $30,000. LFA Lugano Financial Advisors SA lifted its position in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in NIKE in the 4th quarter worth $30,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Price Performance

Shares of NKE stock traded up $2.18 during trading on Friday, hitting $55.73. The company had a trading volume of 18,891,139 shares, compared to its average volume of 14,208,512. The stock's 50-day moving average price is $68.39 and its 200 day moving average price is $73.79. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market capitalization of $82.44 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 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 company had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter last year, the business earned $0.98 earnings per share. NIKE's revenue was down 9.1% on a year-over-year basis. Equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date was Monday, March 3rd. NIKE's payout ratio is presently 53.16%.

Analysts Set New Price Targets

Several research firms have issued reports on NKE. Royal Bank of Canada dropped their price target on NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus dropped their target price on NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. BMO Capital Markets reduced their price target on NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. China Renaissance began coverage on shares of NIKE in a research report on Wednesday, March 19th. They issued a "hold" rating on the stock. Finally, Truist Financial decreased their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Sixteen 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.15.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the firm's stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction 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 of the company's stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale 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.