T. Rowe Price Investment Management Inc. Purchases 77,044 Shares of NIKE, Inc. (NYSE:NKE)

T. Rowe Price Investment Management Inc. lifted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 79.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,792 shares of the footwear maker's stock after buying an additional 77,044 shares during the quarter. T. Rowe Price Investment Management Inc.'s holdings in NIKE were worth $13,151,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

NKE has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on NIKE from $73.00 to $64.00 and set a "neutral" rating on the stock in a report on Friday, March 21st. Citigroup downgraded shares of NIKE from a "buy" rating to a "neutral" rating and reduced their price target for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Needham & Company LLC decreased their price target on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Robert W. Baird lowered their price objective on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, Truist Financial lowered their price objective on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Sixteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $82.81.

NIKE Price Performance

Shares of NYSE:NKE opened at $57.66 on Monday. 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 has a market capitalization of $85.29 billion, a PE ratio of 17.80, a P/E/G ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a 50-day moving average price of $66.75 and a two-hundred day moving average price of $72.88.

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

NIKE Announces Dividend

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

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was bought 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 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. Insiders own 1.10% of the company's stock.

NIKE Profile

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.

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.