Nike, Inc., a consumer cyclical company listed on the NYSE, specializes in the design, development, and global marketing of athletic footwear, apparel, equipment, accessories, and services. The company sells products through its retail stores, online, and via independent distributors and licensees in nearly 190 countries.
Nike focuses on seven key categories: Running, Basketball, Football (Soccer), Men's Training, Women's Training, Nike Sportswear, and Action Sports. Additionally, it offers products designed for kids and for various athletic and recreational activities like baseball, cricket, golf, and more. In February 2013, Nike sold its affiliate brand, Cole Haan, to APAX Partners LLP.
March 2023 marked a month of significant stake alterations for NIKE Inc. by various hedge funds.
On the buying end, BlackRock Inc. marginally increased its shares by 1.13% to reach a value of $10.6B, a 5.99% rise. AllianceBernstein LP upped its stakes by 15.85%, escalating its holdings to $2.56B, marking a 21.43% surge. Goldman Sachs Group Inc. followed suit with a 12.25% rise in its shares, rounding up to $1.48B, a value hike of 17.65%.
Jennison Associates LLC recorded a 16.38% increase in shares, boosting their current worth to $1.09B, a 21.98% uptick.
Geode Capital Management, LLC observed a more conservative rise of 0.52%, elevating their shares to $2.75B, a 5.29% increase. Meanwhile, Pictet Asset Management SA saw a significant growth of 47.31% in shares, bringing the value to $366.84M, a 54.40% leap.
Fred Alger Management Inc recorded a rise of 336.04% in shares, translating to a total worth of $87.06M, a 357.02% surge. Los Angeles Capital Management & Equity Research Inc. saw an even higher ascent, with their stake grew by 1,242.27%, bringing the value to $47.9M, a 1,306.85% surge.
Ameriprise Financial Inc saw a modest increase of 1.41%, with the value of their shares reaching $656.17M, a 6.32% rise. Holocene Advisors, LP, emerged as a new entrant, starting with a solid $36.87M in NIKE shares.
Conversely, the sellers' side painted a contrasting picture.
Millennium Management LLC's shares decreased by 57.14% to a value of $103.49M, a drop of 55.08%. Squarepoint Ops LLC reduced its stakes drastically by 82.00%, leaving their holdings at $28.94M, a hefty drop of 81.13%.
Two Sigma Advisers LP completely liquidated their NIKE shares. Marshall Wace, LLP recorded a 35.60% drop in shares, devaluating to $224.69M, a 32.50% decrease. Alyeska Investment Group LP and Cresset Asset Management, LLC, also sold off massively, with shares plummeting by 92.09% and 91.85% respectively. Their holdings were left at $9.56M and $6.13M.
Nuveen Asset Management observed a 13.14% drop, decreasing its value to $936.39M, an 8.97% drop. D E Shaw & Co Inc. slashed its stakes by 76.56%, leaving the value at $29.14M, a 75.44% drop.
HSBC Holdings PLC witnessed a 24.30% decrease in shares, bringing the value down to $290.58M, a 20.59% decrease. Lastly, JPMorgan Chase & Co reduced its stakes by 6.91%, leaving the value at $2.40B, a 2.43% drop.