Acadian Asset Management LLC Acquires 203,990 Shares of NIKE, Inc. (NYSE:NKE)

Acadian Asset Management LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 306.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 270,462 shares of the footwear maker’s stock after purchasing an additional 203,990 shares during the period. Acadian Asset Management LLC’s holdings in NIKE were worth $20,379,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares during the period. Capital International Investors raised its holdings in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Norges Bank bought a new position in NIKE during the fourth quarter valued at $1,315,097,000. Finally, Fisher Asset Management LLC increased its position in NIKE by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after buying an additional 211,360 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. UBS Group reiterated a “neutral” rating and set a $78.00 target price on shares of NIKE in a research report on Friday, June 28th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research report on Friday, August 23rd. Truist Financial dropped their price target on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Finally, Bank of America reduced their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $95.59.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NIKE stock opened at $79.50 on Tuesday. The stock has a market capitalization of $119.20 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The company has a fifty day moving average of $76.99 and a 200-day moving average of $88.38. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the company earned $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.86%. NIKE’s dividend payout ratio is currently 39.68%.

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.