175,000 Shares in NIKE, Inc. (NYSE:NKE) Acquired by Rovida Advisors Inc.

Rovida Advisors Inc. bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 175,000 shares of the footwear maker's stock, valued at approximately $13,246,000. NIKE comprises 10.3% of Rovida Advisors Inc.'s investment portfolio, making the stock its 5th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. Eagle Asset Management Inc. lifted its stake in shares of NIKE by 36.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 16,698 shares of the footwear maker's stock worth $1,476,000 after buying an additional 4,440 shares during the last quarter. Meridian Wealth Management LLC bought a new position in NIKE in the 3rd quarter valued at about $261,000. Great Valley Advisor Group Inc. lifted its position in NIKE by 4.9% during the third quarter. Great Valley Advisor Group Inc. now owns 11,409 shares of the footwear maker's stock worth $1,009,000 after acquiring an additional 532 shares during the last quarter. Bank of Hawaii boosted its holdings in shares of NIKE by 69.1% during the third quarter. Bank of Hawaii now owns 8,876 shares of the footwear maker's stock worth $785,000 after acquiring an additional 3,626 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its position in shares of NIKE by 599.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 797 shares of the footwear maker's stock valued at $70,000 after purchasing an additional 683 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Trading Down 3.8 %

NIKE stock traded down $2.48 during mid-day trading on Friday, hitting $63.32. 19,564,094 shares of the stock were exchanged, compared to its average volume of 12,930,854. The stock has a market capitalization of $93.65 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 12 month low of $63.14 and a 12 month high of $98.04. 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 firm's fifty day simple moving average is $74.16 and its two-hundred day simple moving average is $76.93.

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NIKE (NYSE:NKE - Get Free Report) last announced 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 business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, March 3rd. NIKE's dividend payout ratio is 53.16%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business's 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 transaction, the chairman now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Stifel Nicolaus reduced their price target on NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, December 20th. Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Truist Financial cut their price objective on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. lowered their price target on NIKE from $73.00 to $64.00 and set a "neutral" 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $87.38.

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.