Caitong International Asset Management Co. Ltd Has $3.38 Million Holdings in NIKE, Inc. $NKE

Caitong International Asset Management Co. Ltd raised its holdings in NIKE, Inc. (NYSE:NKE) by 911.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,968 shares of the footwear maker’s stock after acquiring an additional 47,731 shares during the period. NIKE comprises 0.8% of Caitong International Asset Management Co. Ltd’s holdings, making the stock its 20th biggest holding. Caitong International Asset Management Co. Ltd’s holdings in NIKE were worth $3,375,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NKE. Brighton Jones LLC increased its position in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caxton Associates LLP bought a new position in NIKE in the 1st quarter valued at approximately $311,000. United Bank boosted its position in NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after buying an additional 1,736 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of NIKE by 0.3% during the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after buying an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of NIKE by 6.5% during the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after buying an additional 11,646 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.0%

Shares of NYSE:NKE opened at $45.22 on Friday. The firm has a market cap of $66.97 billion, a P/E ratio of 29.95, a P/E/G ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17. The business has a fifty day simple moving average of $44.39 and a 200 day simple moving average of $54.79. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

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

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s payout ratio is currently 108.61%.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Barclays reiterated a Buy rating on NIKE, which can support sentiment by signaling that analysts still see upside in the stock. Barclays Remains a Buy on Nike (NKE)
• Positive Sentiment: NIKE outperformed the broader market in the latest trading session, suggesting traders may be positioning ahead of upcoming earnings and looking for signs that the turnaround is taking hold. Nike (NKE) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Coverage highlighted stronger traction in one major market and signs that NIKE’s recovery is gaining momentum, which could improve confidence in the company’s earnings outlook. Headed Into Earnings, Nike Stock Is Trading Lower Than It Was a Decade Ago. But Is the Turnaround Finally Working?

Insiders Place Their Bets

In related news, Director Robert Holmes Swan bought 11,781 shares of NIKE stock in a transaction that occurred on Tuesday, April 7th. The shares were acquired at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the acquisition, the director directly owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy D. Cook purchased 25,000 shares of the 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 acquisition, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 64,441 shares of company stock valued at $2,734,204 over the last three months. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. Piper Sandler reiterated a “neutral” rating and issued a $50.00 price target (down from $60.00) on shares of NIKE in a research note on Friday, April 10th. Jefferies Financial Group lowered their target price on NIKE from $110.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Barclays dropped their target price on NIKE from $73.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. The Goldman Sachs Group reissued a “neutral” rating and set a $52.00 price target on shares of NIKE in a research note on Friday, June 5th. Finally, Robert W. Baird reduced their price target on NIKE from $85.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Fifteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.89.

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).