OP Asset Management Ltd Takes Position in NIKE, Inc. $NKE

OP Asset Management Ltd bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 121,260 shares of the footwear maker’s stock, valued at approximately $6,405,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Banque Cantonale Vaudoise lifted its stake in NIKE by 106.0% in the first quarter. Banque Cantonale Vaudoise now owns 20,904 shares of the footwear maker’s stock worth $1,104,000 after acquiring an additional 10,754 shares during the period. Apella Capital LLC increased its position in NIKE by 11.2% during the 1st quarter. Apella Capital LLC now owns 8,265 shares of the footwear maker’s stock valued at $437,000 after purchasing an additional 834 shares during the period. Assenagon Asset Management S.A. raised its holdings in NIKE by 253.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,035,829 shares of the footwear maker’s stock worth $54,712,000 after purchasing an additional 742,992 shares in the last quarter. Keudell Morrison Wealth Management raised its holdings in NIKE by 5.6% in the 1st quarter. Keudell Morrison Wealth Management now owns 32,003 shares of the footwear maker’s stock worth $1,690,000 after purchasing an additional 1,691 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its position in shares of NIKE by 28.9% in the 1st quarter. Cidel Asset Management Inc. now owns 11,953 shares of the footwear maker’s stock worth $631,000 after purchasing an additional 2,680 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. DZ Bank reaffirmed a “buy” rating on shares of NIKE in a research note on Tuesday, April 21st. UBS Group set a $50.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a report on Wednesday, June 10th. CICC Research cut NIKE from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $69.00 to $58.00 in a research report on Monday, April 6th. Zacks Research downgraded NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. Finally, Berenberg Bank reissued a “neutral” rating on shares of NIKE in a research report on Wednesday, May 6th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.40.

NIKE Stock Performance

Shares of NKE opened at $40.79 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average price is $44.29 and its 200-day moving average price is $54.05. NIKE, Inc. has a 52 week low of $40.44 and a 52 week high of $80.17. The stock has a market cap of $60.40 billion, a P/E ratio of 27.01, a P/E/G ratio of 1.81 and a beta of 1.12.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 EPS. Equities research analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is currently 108.61%.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Neutral Sentiment: Wells Fargo gave Nike a Hold rating, reflecting a cautious stance ahead of earnings. Wells Fargo Gives a Hold Rating to Nike (NKE)
• Positive Sentiment: Sanford C. Bernstein reaffirmed a Buy rating, suggesting some analysts still see upside despite the turnaround challenges. Nike Inc. Receives a Buy Rating from Bernstein
• Neutral Sentiment: Upcoming fourth-quarter earnings and guidance are the main catalyst, with investors watching whether Nike’s “Win Now” strategy is starting to improve results. Nike Wants to Make a Comeback. Should You Buy the Stock Before June 30?
• Negative Sentiment: A reported plan to restrict Chinese distributors’ online sales was criticized as a strategic mistake, raising concern about Nike’s China strategy and future growth. NKE Stock Slips On China Business Strategy Misstep And Surprise CFO Change Before Earnings
• Negative Sentiment: Nike’s surprise CFO transition is adding uncertainty, with analysts warning that the turnaround may take several more quarters to show clear progress. Nike’s New CFO Won’t Speed Up Its Turnaround

Insider Activity

In other news, Director Timothy D. Cook acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the transaction, the director owned 130,480 shares of the company’s stock, valued at $5,536,266.40. This trade represents a 23.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Rogers, Jr. acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were purchased at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the transaction, the director directly owned 41,022 shares in the company, valued at $1,777,893.48. The trade was a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is currently owned by insiders.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).