Assenagon Asset Management S.A. Has $54.71 Million Stock Position in NIKE, Inc. $NKE

Assenagon Asset Management S.A. raised its position in NIKE, Inc. (NYSE:NKE) by 253.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,035,829 shares of the footwear maker’s stock after purchasing an additional 742,992 shares during the quarter. Assenagon Asset Management S.A.’s holdings in NIKE were worth $54,712,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of NIKE by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock valued at $7,453,658,000 after buying an additional 1,702,342 shares in the last quarter. State Street Corp increased its holdings in NIKE by 2.2% in the fourth quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock worth $3,802,807,000 after buying an additional 1,275,494 shares during the last quarter. Capital World Investors raised its position in NIKE by 16.2% during the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares in the last quarter. J. Stern & Co. LLP raised its position in NIKE by 49,010.4% during the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after acquiring an additional 47,956,692 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in NIKE by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock valued at $1,677,251,000 after acquiring an additional 233,925 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on NKE shares. Stifel Nicolaus decreased their target price on shares of NIKE from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Royal Bank Of Canada downgraded shares of NIKE from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $70.00 to $50.00 in a report on Wednesday, June 10th. UBS Group set a $50.00 price objective on shares of NIKE and gave the company a “neutral” rating in a research note on Wednesday, June 10th. Telsey Advisory Group reduced their price objective on shares of NIKE from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. Finally, Barclays decreased their price objective on shares of NIKE from $73.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Thirteen equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Hold” and an average target price of $59.40.

More 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 12 month low of $40.44 and a 12 month high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $44.29 and its two-hundred day moving average is $54.05. The company has a market cap of $60.40 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 1.81 and a beta of 1.12.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is 108.61%.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. bought 4,000 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was purchased at an average price of $43.34 per share, with a total value of $173,360.00. Following the transaction, the director directly owned 41,022 shares in the company, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy D. Cook purchased 25,000 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were purchased at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the acquisition, the director directly owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 64,441 shares of company stock worth $2,734,204. Corporate insiders own 0.80% of the company’s stock.

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).