Sit Investment Associates Inc. Acquires 43,326 Shares of NIKE, Inc. $NKE

Sit Investment Associates Inc. grew its stake in NIKE, Inc. (NYSE:NKE) by 64.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,375 shares of the footwear maker’s stock after buying an additional 43,326 shares during the quarter. Sit Investment Associates Inc.’s holdings in NIKE were worth $7,032,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Westerkirk Capital Inc. boosted its holdings in shares of NIKE by 52.4% in the 4th quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock valued at $8,360,000 after buying an additional 45,100 shares during the last quarter. Mizuho Markets Cayman LP acquired a new stake in shares of NIKE during the 3rd quarter worth about $34,200,000. OMERS ADMINISTRATION Corp lifted its position in NIKE by 77.9% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker’s stock worth $160,943,000 after acquiring an additional 1,106,499 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in NIKE in the 4th quarter valued at $43,188,000. Finally, Strive Asset Management LLC bought a new stake in shares of NIKE in the third quarter valued at about $1,743,000. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In other news, CEO Elliott Hill acquired 23,660 shares of NIKE stock in a transaction on Monday, April 13th. The stock was acquired at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the transaction, the chief executive officer owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 11,781 shares of NIKE stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the acquisition, the director 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 SEC filing for this purchase provides additional information. Insiders have bought 64,441 shares of company stock valued at $2,734,204 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.

Key Stories Impacting NIKE

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?

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Weiss Ratings downgraded shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $52.00 price objective on shares of NIKE in a report on Friday, June 5th. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Zacks Research downgraded NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. Fifteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.89.

NIKE Price Performance

NKE stock opened at $45.22 on Friday. The company’s 50-day moving average is $44.39 and its 200-day moving average is $54.79. The stock has a market capitalization of $66.97 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating 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 the consensus estimate of $11.23 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Dividend Announcement

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 paid a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.6%. NIKE’s payout ratio is 108.61%.

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).