Renaissance Technologies LLC Purchases 2,416,601 Shares of NIKE, Inc. (NYSE:NKE)

Renaissance Technologies LLC lifted its position in NIKE, Inc. (NYSE:NKE) by 1,302.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,602,101 shares of the footwear maker’s stock after buying an additional 2,416,601 shares during the period. Renaissance Technologies LLC owned about 0.18% of NIKE worth $196,901,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in NIKE in the 3rd quarter worth about $418,000. Dunhill Financial LLC raised its holdings in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares during the last quarter. MML Investors Services LLC lifted its position in NIKE by 3.4% during the third quarter. MML Investors Services LLC now owns 167,291 shares of the footwear maker’s stock valued at $14,788,000 after purchasing an additional 5,426 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in NIKE by 4.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 460,081 shares of the footwear maker’s stock worth $40,671,000 after purchasing an additional 20,532 shares during the last quarter. Finally, Executive Wealth Management LLC bought a new position in shares of NIKE during the 3rd quarter valued at $1,697,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $55.62 on Tuesday. The company’s fifty day moving average price is $72.55 and its 200-day moving average price is $76.09. NIKE, Inc. has a 1-year low of $52.50 and a 1-year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market capitalization of $82.26 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue was down 9.1% on a year-over-year basis. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.88%. NIKE’s dividend payout ratio is presently 53.16%.

Analysts Set New Price Targets

NKE has been the topic of several research reports. Robert W. Baird dropped their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Royal Bank of Canada lowered their target price on NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Friday, March 21st. Morgan Stanley dropped their target price on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Cfra Research raised shares of NIKE to a “moderate buy” rating in a report on Friday, March 21st. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the company from $72.00 to $90.00 in a report on Friday, January 10th. Fifteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Company 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.