Choreo LLC Acquires 6,962 Shares of NIKE, Inc. (NYSE:NKE)

Choreo LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 85.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,072 shares of the footwear maker’s stock after purchasing an additional 6,962 shares during the period. Choreo LLC’s holdings in NIKE were worth $1,640,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of NIKE by 0.7% during the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after acquiring an additional 125,746 shares during the last quarter. Northern Trust Corp raised its stake in shares of NIKE by 4.5% during the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after acquiring an additional 674,198 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of NIKE by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock valued at $766,829,000 after acquiring an additional 89,947 shares during the last quarter. Newport Trust Company LLC bought a new position in shares of NIKE during the third quarter valued at about $679,775,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of NIKE by 37.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock valued at $553,786,000 after acquiring an additional 1,583,541 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Sanford C. Bernstein lowered their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Piper Sandler decreased their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Williams Trading reissued a “sell” rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Citigroup decreased their price target on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Finally, Oppenheimer cut shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective on the stock. in a report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Performance

NKE opened at $92.26 on Wednesday. The stock has a market capitalization of $139.25 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.81 and a beta of 1.08. The company has a fifty day moving average of $96.55 and a 200 day moving average of $103.28. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.60%. NIKE’s payout ratio is 43.53%.

NIKE Company 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.