Harvest Fund Management Co. Ltd Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Harvest Fund Management Co. Ltd decreased its holdings in NIKE, Inc. (NYSE:NKE) by 50.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391 shares of the footwear maker’s stock after selling 406 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in NIKE were worth $30,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Range Financial Group LLC acquired a new position in NIKE in the fourth quarter valued at $642,000. Cacti Asset Management LLC acquired a new position in NIKE in the 4th quarter valued at about $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in NIKE during the 4th quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its position in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after acquiring an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC grew its stake in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction 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. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NKE. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Needham & Company LLC reduced their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, Royal Bank of Canada cut their target price on NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a research note on Friday. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Trading Down 5.4 %

NIKE stock opened at $68.02 on Monday. The stock has a 50-day moving average price of $74.70 and a 200 day moving average price of $77.40. NIKE, Inc. has a 52 week low of $65.17 and a 52 week high of $98.04. The stock has a market cap of $100.60 billion, a PE ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The company’s revenue was down 9.1% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal 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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 53.16%.

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.