Lombard Odier Asset Management Switzerland SA Buys 65,876 Shares of NIKE, Inc. $NKE

Lombard Odier Asset Management Switzerland SA grew its position in shares of NIKE, Inc. (NYSE:NKE) by 210.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,203 shares of the footwear maker’s stock after purchasing an additional 65,876 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in NIKE were worth $6,193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cornerstone Financial Management LLC purchased a new stake in NIKE during the fourth quarter valued at about $26,000. J.Safra Asset Management Corp purchased a new position in shares of NIKE in the 4th quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new position in shares of NIKE during the 4th quarter valued at about $30,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of NIKE during the 3rd quarter valued at about $35,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in shares of NIKE during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $45.06 on Wednesday. The business has a fifty day moving average price of $44.30 and a 200-day moving average price of $55.14. 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 company has a market capitalization of $66.72 billion, a PE ratio of 29.84, a PEG ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 1-year low of $41.35 and a 1-year high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 earnings per share. As a group, equities analysts expect that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan purchased 11,781 shares of NIKE stock in a transaction dated Tuesday, April 7th. The stock was purchased at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the purchase, the director directly owned 55,074 shares of the company’s stock, valued at $2,337,340.56. The trade was a 27.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. acquired 4,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were bought at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the transaction, the director owned 41,022 shares of the company’s stock, valued at $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 64,441 shares of company stock worth $2,734,204 in the last quarter. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Guggenheim cut their target price on NIKE from $77.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Bank of America restated a “neutral” rating and issued a $55.00 price objective (down from $73.00) on shares of NIKE in a report on Wednesday, April 1st. Royal Bank Of Canada cut shares of NIKE from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $70.00 to $50.00 in a research note on Wednesday, June 10th. Williams Trading decreased their target price on shares of NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, Piper Sandler restated a “neutral” rating and set a $50.00 price target (down from $60.00) on shares of NIKE in a research report on Friday, April 10th. Fifteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.89.

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).