NIKE, Inc. $NKE Shares Acquired by AlTi Global Inc.

AlTi Global Inc. increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 445.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,024 shares of the footwear maker’s stock after buying an additional 27,781 shares during the quarter. AlTi Global Inc.’s holdings in NIKE were worth $1,797,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NKE. Scarborough Advisors LLC purchased a new stake in NIKE in the first quarter valued at approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in NIKE during the 4th quarter valued at approximately $26,000. Sankala Group LLC acquired a new stake in shares of NIKE in the fourth quarter worth $26,000. Meeder Asset Management Inc. raised its holdings in shares of NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in NIKE during the fourth quarter valued at $29,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NKE shares. CICC Research lowered NIKE from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $69.00 to $58.00 in a report on Monday, April 6th. Berenberg Bank set a $49.00 price target on NIKE in a report on Friday, July 3rd. Evercore set a $46.00 price objective on shares of NIKE and gave the stock an “in-line” rating in a research note on Tuesday, June 23rd. Piper Sandler cut their target price on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Finally, Guggenheim reiterated a “buy” rating and issued a $60.00 target price (down from $74.00) on shares of NIKE in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.80.

Insider Activity at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.8%

Shares of NKE stock opened at $43.43 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17. The company’s 50-day moving average price is $43.69 and its 200-day moving average price is $51.66. The stock has a market cap of $64.31 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.53 and a beta of 1.12.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. NIKE’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities analysts predict that NIKE, Inc. will post 1.75 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.8%. NIKE’s payout ratio is 78.47%.

NIKE Company Profile

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).