Triumph Capital Management Acquires New Position in NIKE, Inc. (NYSE:NKE)

Triumph Capital Management acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,838 shares of the footwear maker’s stock, valued at approximately $215,000.

A number of other hedge funds also recently made changes to their positions in NKE. Becker Capital Management Inc. lifted its holdings in NIKE by 1.0% in the 4th quarter. Becker Capital Management Inc. now owns 440,771 shares of the footwear maker’s stock worth $33,523,000 after purchasing an additional 4,184 shares in the last quarter. Voleon Capital Management LP purchased a new position in NIKE in the 4th quarter worth approximately $1,814,000. Soros Fund Management LLC lifted its holdings in NIKE by 32.7% in the 4th quarter. Soros Fund Management LLC now owns 162,320 shares of the footwear maker’s stock worth $12,283,000 after purchasing an additional 40,000 shares in the last quarter. AQR Capital Management LLC lifted its holdings in NIKE by 46.0% in the 4th quarter. AQR Capital Management LLC now owns 116,428 shares of the footwear maker’s stock worth $8,810,000 after purchasing an additional 36,673 shares in the last quarter. Finally, Perbak Capital Partners LLP purchased a new position in NIKE in the 4th quarter worth approximately $248,000. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

Shares of NIKE stock opened at $63.13 on Friday. The stock’s fifty day moving average is $61.07 and its two-hundred day moving average is $70.70. The company has a market capitalization of $93.38 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Analysts Set New Price Targets

A number of research analysts recently commented on NKE shares. China Renaissance started coverage on NIKE in a report on Wednesday, March 19th. They issued a “hold” rating on the stock. Robert W. Baird lowered their price target on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Barclays lowered their price target on NIKE from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. Truist Financial decreased their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Piper Sandler decreased their price objective on NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $80.30.

NIKE 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.