Kanawha Capital Management LLC Purchases 4,593 Shares of NIKE, Inc. (NYSE:NKE)

Kanawha Capital Management LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,558 shares of the footwear maker’s stock after purchasing an additional 4,593 shares during the period. Kanawha Capital Management LLC’s holdings in NIKE were worth $11,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of NIKE in the 4th quarter valued at $1,126,288,000. Wellington Management Group LLP grew its stake in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Renaissance Technologies LLC increased its holdings in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. Capital World Investors lifted its stake in NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock valued at $1,857,389,000 after buying an additional 2,288,627 shares during the period. Finally, Raymond James Financial Inc. bought a new position in NIKE during the fourth quarter worth about $156,438,000. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director owned 31,983 shares of the company’s stock, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NKE shares. Piper Sandler upped their price target on NIKE from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, June 27th. Stifel Nicolaus lowered their target price on shares of NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Berenberg Bank assumed coverage on shares of NIKE in a research report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price target on the stock. Barclays boosted their price target on shares of NIKE from $53.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, June 27th. Finally, China Renaissance began coverage on NIKE in a research note on Wednesday, March 19th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $77.19.

NIKE Trading Up 3.3%

Shares of NIKE stock opened at $73.38 on Wednesday. The stock has a market cap of $108.54 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.57 and a beta of 1.25. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The business’s 50 day moving average is $61.26 and its 200-day moving average is $67.44.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.18%. NIKE’s dividend payout ratio is 53.16%.

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.