Penserra Capital Management LLC Increases Stake in NIKE, Inc. (NYSE:NKE)

Posted by Defense World Staff on Jul 9th, 2023

Penserra Capital Management LLC increased its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 5,602.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,410 shares of the footwear maker’s stock after buying an additional 22,017 shares during the period. Penserra Capital Management LLC’s holdings in NIKE were worth $2,747,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. BCK Partners Inc. purchased a new position in shares of NIKE in the 1st quarter valued at about $2,839,000. Loomis Sayles & Co. L P raised its holdings in NIKE by 138.2% during the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after purchasing an additional 6,518 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of NIKE by 13.3% during the 1st quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock worth $214,000 after buying an additional 186 shares during the last quarter. Bridgewater Associates LP acquired a new position in shares of NIKE in the 1st quarter valued at $278,000. Finally, Federated Hermes Inc. grew its position in shares of NIKE by 9.8% in the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock valued at $58,392,000 after buying an additional 38,903 shares during the last quarter. 63.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on NKE shares. StockNews.com initiated coverage on NIKE in a report on Thursday, May 18th. They set a “hold” rating on the stock. Robert W. Baird cut their price target on NIKE from $138.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, July 3rd. Stifel Nicolaus increased their price objective on NIKE from $132.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, March 22nd. OTR Global downgraded shares of NIKE to a “positive” rating in a research report on Tuesday, June 20th. Finally, Raymond James reduced their target price on shares of NIKE from $135.00 to $128.00 in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.13.

Insider Buying and Selling at NIKE

In other news, CFO Matthew Friend sold 9,210 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $107.50, for a total value of $990,075.00. Following the transaction, the chief financial officer now directly owns 41,771 shares in the company, valued at approximately $4,490,382.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Matthew Friend sold 9,210 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $107.50, for a total transaction of $990,075.00. Following the completion of the sale, the chief financial officer now directly owns 41,771 shares of the company’s stock, valued at approximately $4,490,382.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $120.86, for a total value of $13,294,600.00. Following the completion of the sale, the chairman now owns 1,355,871 shares of the company’s stock, valued at approximately $163,870,569.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,492 shares of company stock valued at $14,320,215. Company insiders own 0.40% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $104.46 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. The stock has a market cap of $160.55 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. NIKE, Inc. has a fifty-two week low of $82.22 and a fifty-two week high of $131.31. The business has a fifty day moving average of $112.86 and a 200-day moving average of $119.24.

NIKE (NYSE:NKE – Free Report) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.58 billion. NIKE had a net margin of 9.90% and a return on equity of 34.01%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. As a group, analysts predict that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Friday, June 2nd. NIKE’s dividend payout ratio is currently 42.11%.

NIKE Company Profile

(Free Report)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.