Pictet Asset Management Holding SA Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Pictet Asset Management Holding SA grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,676,133 shares of the footwear maker’s stock after buying an additional 6,998 shares during the quarter. Pictet Asset Management Holding SA owned 0.11% of NIKE worth $126,833,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NKE. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter valued at approximately $28,000. Caitlin John LLC raised its holdings in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the period. Roxbury Financial LLC purchased a new stake in NIKE during the 4th quarter valued at $30,000. LFA Lugano Financial Advisors SA lifted its position in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in NIKE during the fourth quarter worth $30,000. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated 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 in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

NKE opened at $63.32 on Friday. The firm has a market capitalization of $93.65 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. 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 50-day moving average is $74.16 and its two-hundred day moving average is $76.94. NIKE, Inc. has a 1 year low of $63.14 and a 1 year high of $98.04.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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 quarter in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. Research analysts anticipate 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.53%. NIKE’s dividend payout ratio is presently 53.16%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NKE shares. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Stifel Nicolaus cut their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. dropped their price objective on NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a report on Friday, March 21st. Fifteen equities research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Company 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.