ABN Amro Investment Solutions Grows Position in NIKE, Inc. $NKE

Key Points

• ABN Amro Investment Solutions boosted its NIKE stake by 111.4% in the fourth quarter, buying nearly 40,000 additional shares and bringing its holdings to 75,895 shares worth about $4.84 million.
• Several NIKE insiders, including Director Timothy D. Cook and CEO Elliott Hill, recently bought shares, and insiders have acquired 64,441 shares over the last three months, signaling internal confidence.
• Analysts remain cautious overall: NIKE has a consensus Hold rating with a $62.04 price target, while the stock trades near $44.40 after reporting earnings that slightly beat expectations but showed only modest revenue growth.

ABN Amro Investment Solutions grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 111.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,895 shares of the footwear maker's stock after buying an additional 39,989 shares during the period. ABN Amro Investment Solutions' holdings in NIKE were worth $4,835,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Main Street Financial Solutions LLC increased its stake in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock valued at $244,000 after purchasing an additional 139 shares during the last quarter. Diligent Investors LLC grew its position in NIKE by 4.3% during the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker's stock valued at $237,000 after acquiring an additional 153 shares during the period. CVA Family Office LLC grew its position in NIKE by 8.0% during the third quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker's stock valued at $147,000 after acquiring an additional 156 shares during the period. Naples Global Advisors LLC lifted its stake in shares of NIKE by 1.9% during the third quarter. Naples Global Advisors LLC now owns 8,514 shares of the footwear maker's stock worth $597,000 after purchasing an additional 159 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of NIKE by 4.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker's stock worth $253,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE shares are benefiting from a shift into consumer and cyclical stocks as market breadth improves, helping lift sentiment around the name. Nike Stock Is Testing A Level That Could Define The Next Move
• Positive Sentiment: Lower energy prices and softer long-term Treasury yields are helping consumer discretionary stocks, including NIKE, by easing inflation worries and supporting expectations for resilient consumer spending. Nike Stock Soars As Energy Prices And Bond Yields Drop
• Neutral Sentiment: NIKE remains a heavily watched stock, with recent articles and trending searches suggesting investors are actively reassessing the name rather than reacting to a single fundamental catalyst. NIKE, Inc. (NKE) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Analyst and commentary pieces are focused on whether NIKE is ready for a turnaround, but they do not point to a clear near-term catalyst on their own. Is Nike Stock (NKE) Ready for a Turnaround?
• Negative Sentiment: Some recent analysis remains cautious, arguing NIKE is still not cheap enough or that the operating environment is tough, which could limit upside if investors demand clearer evidence of a rebound. Nike: Not Cheap Enough Yet

Insiders Place Their Bets

In other NIKE news, Director Timothy D. Cook purchased 25,000 shares of the stock in a transaction dated Friday, April 10th. The shares were acquired at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares of the company's stock, valued at $5,536,266.40. This represents a 23.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Elliott Hill purchased 23,660 shares of the stock in a transaction dated Monday, April 13th. The shares were acquired at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the acquisition, the chief executive officer directly owned 265,247 shares of the company's stock, valued at $11,211,990.69. This represents a 9.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. CICC Research cut NIKE from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $69.00 to $58.00 in a research note on Monday, April 6th. Robert W. Baird lowered their price objective on NIKE from $85.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Williams Trading lowered their target price on NIKE from $80.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. China Renaissance lowered their target price on NIKE from $74.60 to $50.30 and set a "hold" rating for the company in a report on Thursday, April 2nd. Finally, DZ Bank reissued a "buy" rating on shares of NIKE in a report on Tuesday, April 21st. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, NIKE currently has a consensus rating of "Hold" and a consensus price target of $62.04.

NIKE Stock Performance

Shares of NIKE stock opened at $44.40 on Friday. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The stock has a market cap of $65.75 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.34 and a beta of 1.12. The business has a fifty day simple moving average of $46.81 and a 200-day simple moving average of $57.41.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share 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 for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. NIKE's revenue for the quarter was up .1% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. NIKE's payout ratio is currently 108.61%.

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).

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