Honeycomb Asset Management LP Invests $1.26 Million in NIKE, Inc. $NKE

Honeycomb Asset Management LP purchased a new position in NIKE, Inc. (NYSE:NKE) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,800 shares of the footwear maker’s stock, valued at approximately $1,258,000. NIKE comprises about 6.5% of Honeycomb Asset Management LP’s holdings, making the stock its 3rd largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Westerkirk Capital Inc. raised its stake in NIKE by 52.4% during the fourth quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock valued at $8,360,000 after buying an additional 45,100 shares in the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of NIKE by 77.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker’s stock valued at $160,943,000 after acquiring an additional 1,106,499 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of NIKE in the 4th quarter valued at approximately $43,188,000. Nicholas Company Inc. raised its position in shares of NIKE by 33.3% during the 4th quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock valued at $7,878,000 after acquiring an additional 30,890 shares in the last quarter. Finally, Stoneridge Investment Partners LLC raised its position in shares of NIKE by 1,253.6% during the 4th quarter. Stoneridge Investment Partners LLC now owns 78,846 shares of the footwear maker’s stock valued at $5,023,000 after acquiring an additional 73,021 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NKE has been the subject of a number of research reports. CICC Research decreased their price objective on shares of NIKE from $58.00 to $44.80 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Oppenheimer dropped their target price on shares of NIKE from $120.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, June 26th. China Renaissance reduced their price target on shares of NIKE from $50.30 to $47.30 and set a “hold” rating on the stock in a research report on Thursday, July 2nd. Stifel Nicolaus set a $45.00 price target on shares of NIKE and gave the company a “hold” rating in a report on Wednesday, July 1st. Finally, HSBC downgraded shares of NIKE from a “buy” rating to a “hold” rating and lowered their price objective for the company from $90.00 to $48.00 in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.74.

NIKE Price Performance

Shares of NYSE NKE opened at $41.86 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The firm has a market capitalization of $62.10 billion, a PE ratio of 20.03, a P/E/G ratio of 1.85 and a beta of 1.12. NIKE, Inc. has a 1-year low of $40.00 and a 1-year high of $80.17. The business’s fifty day moving average price is $43.56 and its two-hundred day moving average price is $50.36.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. On average, research analysts expect that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a $0.41 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.9%. NIKE’s dividend payout ratio (DPR) is currently 78.47%.

Insider Transactions at NIKE

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. The trade was a 24.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is owned by insiders.

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).