O Shaughnessy Asset Management LLC Buys 14,798 Shares of NIKE, Inc. $NKE

O Shaughnessy Asset Management LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 10.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,931 shares of the footwear maker’s stock after purchasing an additional 14,798 shares during the period. O Shaughnessy Asset Management LLC’s holdings in NIKE were worth $10,380,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Gordian Capital Singapore Pte Ltd bought a new stake in shares of NIKE in the 3rd quarter valued at approximately $35,000. Accredited Wealth Management LLC raised its holdings in shares of NIKE by 268.6% in the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after buying an additional 376 shares during the period. Strive Asset Management LLC purchased a new stake in shares of NIKE in the third quarter worth approximately $40,000. Matrix Trust Co raised its holdings in shares of NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock worth $38,000 after buying an additional 181 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of NIKE in the third quarter worth approximately $43,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 1.4%

NIKE stock opened at $44.01 on Thursday. The business has a fifty day moving average price of $44.39 and a 200-day moving average price of $55.64. NIKE, Inc. has a 1-year low of $41.35 and a 1-year high of $80.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The stock has a market capitalization of $65.17 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.93 and a beta of 1.12.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed 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 dividend yield of 3.7%. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Negative Sentiment: RBC Capital Markets downgraded NIKE to Sector Perform from Outperform and cut its price target to $50 from $70, signaling less confidence in near-term upside despite World Cup-related demand hopes. Nike Could Get a World Cup Boost. But Stay Behind the Touchline, Analysts Say.
• Negative Sentiment: Citigroup also lowered its price target on NIKE to $47 from $53 and kept a Neutral rating, reinforcing the view that the stock may have limited short-term catalysts. Citigroup adjusts Nike’s PT to $47 from $53; maintains neutral rating
• Negative Sentiment: RBC said NIKE’s turnaround is progressing more slowly than expected, leaving the company with limited near-term catalysts even with the World Cup approaching. Nike Near-Term Catalysts Limited as Turnaround Progress Is Slower Than Expected, RBC Says
• Neutral Sentiment: Commentary around a possible World Cup boost for NIKE’s brand and sales is still speculative, and analysts are not yet treating it as enough to offset broader concerns about the turnaround. Should You Buy Nike Stock Ahead of the World Cup?

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NKE. 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. Barclays reduced their price objective on NIKE from $73.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Guggenheim cut their price target on NIKE from $77.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, Evercore cut their price target on NIKE from $69.00 to $57.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.89.

Insider Buying and Selling

In related news, Director Timothy D. Cook acquired 25,000 shares of NIKE stock in a transaction on Friday, April 10th. The stock was acquired at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the purchase, the director owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. This represents a 23.70% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan purchased 11,781 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was acquired at an average price of $42.44 per share, with a total value of $499,985.64. Following the purchase, the director owned 55,074 shares in the company, 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. Over the last 90 days, insiders have acquired 64,441 shares of company stock worth $2,734,204. Corporate insiders own 0.80% of the company’s stock.

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).