NIKE, Inc. $NKE Shares Acquired by Riverpark Capital Management LLC

Riverpark Capital Management LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,091 shares of the footwear maker’s stock after purchasing an additional 1,320 shares during the period. NIKE makes up about 1.9% of Riverpark Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding. Riverpark Capital Management LLC’s holdings in NIKE were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Nuveen LLC acquired a new stake in NIKE during the 1st quarter valued at $502,285,000. Vanguard Group Inc. increased its stake in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the period. Finally, Generation Investment Management LLP purchased a new stake in NIKE during the 1st quarter worth $215,768,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several recent analyst reports. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and raised their target price for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Morgan Stanley set a $72.00 price objective on NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, November 17th. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the company a “buy” rating in a report on Thursday, September 25th. Finally, BTIG Research began coverage on shares of NIKE in a report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.24.

NIKE Stock Performance

NKE opened at $63.68 on Wednesday. The business has a 50 day moving average price of $66.96 and a two-hundred day moving average price of $69.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company has a market capitalization of $94.14 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a dividend of $0.41 per share. This is a boost from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, December 1st. NIKE’s dividend payout ratio (DPR) is currently 84.10%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the transaction, the chairman owned 647,615 shares in the company, valued at approximately $41,965,452. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 16,150 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were bought at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the transaction, the director directly owned 21,388 shares in the company, valued at approximately $1,327,980.92. The trade was a 308.32% increase in their position. The SEC filing for this purchase provides additional information. 0.80% of the stock is currently owned by insiders.

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.