Lombard Odier Asset Management USA Corp Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Lombard Odier Asset Management USA Corp raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 43.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,000 shares of the footwear maker’s stock after acquiring an additional 2,111 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in NIKE were worth $528,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Capital International Investors lifted its stake in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD purchased a new stake in NIKE during the first quarter worth $533,533,000. Capital World Investors grew its position in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares during the period. Finally, Jennison Associates LLC grew its position in NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 6.8 %

NKE stock opened at $86.52 on Monday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a market cap of $130.59 billion, a PE ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The firm’s 50 day moving average price is $78.11 and its 200-day moving average price is $86.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, equities research analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NKE shares. Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday. The Goldman Sachs Group lowered their price target on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. HSBC cut their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Stifel Nicolaus cut their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.15.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.