Forum Financial Management LP Buys 795 Shares of NIKE, Inc. (NYSE:NKE)

by · The Cerbat Gem

Forum Financial Management LP boosted its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 14.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,431 shares of the footwear maker’s stock after purchasing an additional 795 shares during the quarter. Forum Financial Management LP’s holdings in NIKE were worth $487,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Infusive Asset Management Inc. grew its holdings in shares of NIKE by 143.3% in the 4th quarter. Infusive Asset Management Inc. now owns 104,171 shares of the footwear maker’s stock worth $7,883,000 after purchasing an additional 61,351 shares during the last quarter. Capital International Ltd. CA grew its stake in NIKE by 1.7% during the fourth quarter. Capital International Ltd. CA now owns 166,995 shares of the footwear maker’s stock worth $12,637,000 after buying an additional 2,757 shares during the last quarter. Cadence Bank increased its holdings in shares of NIKE by 36.4% during the fourth quarter. Cadence Bank now owns 75,428 shares of the footwear maker’s stock worth $5,708,000 after buying an additional 20,146 shares in the last quarter. Capital Group Investment Management PTE. LTD. raised its stake in shares of NIKE by 1.8% in the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 35,658 shares of the footwear maker’s stock valued at $2,698,000 after acquiring an additional 623 shares during the last quarter. Finally, Capital International Sarl boosted its holdings in shares of NIKE by 9.9% in the 4th quarter. Capital International Sarl now owns 254,888 shares of the footwear maker’s stock worth $19,287,000 after acquiring an additional 22,869 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

Shares of NKE opened at $55.73 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The stock has a 50 day simple moving average of $68.39 and a 200 day simple moving average of $73.73. The firm has a market capitalization of $82.44 billion, a PE ratio of 17.20, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (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 the consensus estimate of $11.02 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. NIKE’s dividend payout ratio is 53.16%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’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 completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction on 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 completion of the transaction, the director now owns 31,983 shares of the company’s stock, valued at approximately $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. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NKE. BMO Capital Markets cut their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. UBS Group cut their price target on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Finally, Needham & Company LLC reduced their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Sixteen investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.15.

Check Out Our Latest Stock Report on NKE

NIKE Company Profile

(Free Report)

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.

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