OP Asset Management Ltd Invests $6.41 Million in NIKE, Inc. $NKE

OP Asset Management Ltd purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 121,260 shares of the footwear maker’s stock, valued at approximately $6,405,000.

Several other institutional investors also recently modified their holdings of NKE. Cornerstone Financial Management LLC bought a new stake in shares of NIKE in the fourth quarter worth approximately $26,000. Sankala Group LLC bought a new position in NIKE during the fourth quarter valued at approximately $26,000. J.Safra Asset Management Corp bought a new position in NIKE during the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. purchased a new stake in NIKE in the fourth quarter worth approximately $30,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in NIKE in the fourth quarter worth approximately $32,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research reports. DA Davidson lowered shares of NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the company from $72.00 to $46.00 in a research note on Thursday, April 2nd. Evercore set a $46.00 price target on NIKE and gave the stock an “in-line” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $54.00 to $51.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. China Renaissance reduced their price objective on NIKE from $74.60 to $50.30 and set a “hold” rating for the company in a research report on Thursday, April 2nd. Finally, The Goldman Sachs Group set a $46.00 target price on NIKE and gave the stock a “neutral” rating in a research report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.40.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan acquired 11,781 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average price of $42.44 per share, with a total value of $499,985.64. Following the completion of the purchase, the director directly owned 55,074 shares of the company’s stock, valued at $2,337,340.56. This represents a 27.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. acquired 4,000 shares of the stock in a transaction dated Thursday, April 9th. The shares were bought 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 owned 41,022 shares in the company, valued at approximately $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 64,441 shares of company stock valued at $2,734,204. Company insiders own 0.80% of the company’s stock.

Key NIKE News

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

NIKE Trading Down 2.5%

Shares of NKE stock opened at $40.79 on Friday. NIKE, Inc. has a 1 year low of $40.44 and a 1 year high of $80.17. The firm has a fifty day moving average price of $44.29 and a 200-day moving average price of $54.05. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The company has a market cap of $60.40 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.81 and a beta of 1.12.

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

NIKE Announces Dividend

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

About NIKE

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).