33,000 Shares in NIKE, Inc. (NYSE:NKE) Acquired by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 33,000 shares of the footwear maker’s stock, valued at approximately $2,497,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd grew its stake in shares of NIKE by 599.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 797 shares of the footwear maker’s stock worth $70,000 after acquiring an additional 683 shares during the period. D.A. Davidson & CO. increased its stake in shares of NIKE by 11.8% in the third quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock worth $9,278,000 after purchasing an additional 11,108 shares in the last quarter. Cadence Bank raised its position in shares of NIKE by 2.8% in the third quarter. Cadence Bank now owns 55,282 shares of the footwear maker’s stock valued at $4,887,000 after purchasing an additional 1,520 shares during the period. Soros Capital Management LLC lifted its stake in shares of NIKE by 3.6% during the 3rd quarter. Soros Capital Management LLC now owns 36,804 shares of the footwear maker’s stock valued at $3,253,000 after buying an additional 1,264 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in NIKE by 35.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,300 shares of the footwear maker’s stock worth $9,220,000 after buying an additional 27,400 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NKE shares. China Renaissance assumed coverage on shares of NIKE in a report on Wednesday, March 19th. They set a “hold” rating on the stock. Guggenheim reissued a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. Cfra Research raised NIKE to a “moderate buy” rating in a 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 research report on Friday, March 21st. Finally, Needham & Company LLC decreased their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.38.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s 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 $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE Price Performance

NYSE NKE opened at $65.76 on Thursday. The stock has a market capitalization of $97.26 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1-year low of $64.95 and a 1-year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business’s fifty day moving average price is $74.42 and its 200-day moving average price is $77.13.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.43%. NIKE’s dividend payout ratio (DPR) is 53.16%.

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.