NIKE, Inc. $NKE Shares Acquired by Fiduciary Alliance LLC

Fiduciary Alliance LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1,438.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,146 shares of the footwear maker’s stock after buying an additional 46,887 shares during the period. Fiduciary Alliance LLC’s holdings in NIKE were worth $2,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in NKE. Westerkirk Capital Inc. increased its stake in shares of NIKE by 52.4% during the fourth quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock worth $8,360,000 after purchasing an additional 45,100 shares in the last quarter. Mizuho Markets Cayman LP purchased a new position in NIKE in the 3rd quarter valued at about $34,200,000. OMERS ADMINISTRATION Corp lifted its stake in 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 buying an additional 1,106,499 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in NIKE in the 4th quarter worth about $43,188,000. Finally, Strive Asset Management LLC acquired a new stake in NIKE in the 3rd quarter worth about $1,743,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 2.5%

NKE opened at $40.79 on Friday. 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’s 50 day simple moving average is $44.29 and its two-hundred day simple moving average is $54.05. NIKE, Inc. has a 1-year low of $40.44 and a 1-year high of $80.17. The firm has a market capitalization of $60.40 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 1.81 and a beta of 1.12.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. NIKE’s payout ratio is 108.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group set a $50.00 target price on NIKE and gave the company a “neutral” rating in a report on Wednesday, June 10th. Jefferies Financial Group lowered their price target on NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Berenberg Bank reiterated a “neutral” rating on shares of NIKE in a research report on Wednesday, May 6th. Royal Bank Of Canada downgraded NIKE from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $70.00 to $50.00 in a research note on Wednesday, June 10th. Finally, Weiss Ratings lowered NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.40.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Neutral Sentiment: Wells Fargo gave Nike a Hold rating, reflecting a cautious stance ahead of earnings. Wells Fargo Gives a Hold Rating to Nike (NKE)
• Positive Sentiment: Sanford C. Bernstein reaffirmed a Buy rating, suggesting some analysts still see upside despite the turnaround challenges. Nike Inc. Receives a Buy Rating from Bernstein
• Neutral Sentiment: Upcoming fourth-quarter earnings and guidance are the main catalyst, with investors watching whether Nike’s “Win Now” strategy is starting to improve results. Nike Wants to Make a Comeback. Should You Buy the Stock Before June 30?
• Negative Sentiment: A reported plan to restrict Chinese distributors’ online sales was criticized as a strategic mistake, raising concern about Nike’s China strategy and future growth. NKE Stock Slips On China Business Strategy Misstep And Surprise CFO Change Before Earnings
• Negative Sentiment: Nike’s surprise CFO transition is adding uncertainty, with analysts warning that the turnaround may take several more quarters to show clear progress. Nike’s New CFO Won’t Speed Up Its Turnaround

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 11,781 shares of NIKE stock in a transaction dated Tuesday, April 7th. The shares were acquired at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the acquisition, the director directly owned 55,074 shares in the company, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Elliott Hill purchased 23,660 shares of the stock in a transaction dated Monday, April 13th. The shares were purchased at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the transaction, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 64,441 shares of company stock worth $2,734,204 over the last quarter. Corporate insiders own 0.80% of the company’s stock.

NIKE 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).