Riverview Capital Advisers LLC Acquires New Holdings in NIKE, Inc. (NYSE:NKE)

Riverview Capital Advisers LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, Holdings Channel reports. The fund bought 60,679 shares of the footwear maker’s stock, valued at approximately $4,592,000. NIKE comprises 1.4% of Riverview Capital Advisers LLC’s portfolio, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Wedmont Private Capital increased its stake in NIKE by 8.8% in the 4th quarter. Wedmont Private Capital now owns 4,927 shares of the footwear maker’s stock worth $351,000 after acquiring an additional 398 shares during the last quarter. Fiduciary Financial Group LLC purchased a new position in shares of NIKE during the fourth quarter worth about $292,000. Pines Wealth Management LLC bought a new position in shares of NIKE in the fourth quarter worth approximately $237,000. Bright Rock Capital Management LLC raised its stake in NIKE by 7.5% in the fourth quarter. Bright Rock Capital Management LLC now owns 100,000 shares of the footwear maker’s stock valued at $7,567,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after purchasing an additional 2,357,745 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NKE shares. Piper Sandler decreased their price target on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. China Renaissance started coverage on NIKE in a research report on Wednesday, March 19th. They set a “hold” rating on the stock. Stifel Nicolaus cut their price objective on NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Truist Financial decreased their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Guggenheim reiterated a “buy” rating and set a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $80.30.

Insider Buying and Selling

In other news, Director Robert Holmes Swan bought 8,600 shares of the company’s stock in a transaction on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

NIKE Trading Down 1.0%

Shares of NYSE:NKE opened at $61.77 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a market cap of $91.37 billion, a P/E ratio of 19.06, a PEG ratio of 2.52 and a beta of 1.23. The stock’s fifty day moving average price is $61.57 and its 200-day moving average price is $70.96.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is currently 53.16%.

About NIKE

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.