Baypointe Partners LLC Has $1.40 Million Stock Position in NIKE, Inc. $NKE

Key Points

• Baypointe Partners cut its NIKE stake by 85.4%, selling 128,061 shares in Q4 and leaving 21,939 shares worth about $1.40 million (≈2.9% of its portfolio; NIKE is its 11th-largest holding).
• NIKE beat the quarter's expectations with EPS of $0.35 vs. $0.29 and revenue of $11.28 billion (up 0.1% year-over-year); analysts' consensus is a "Hold" with an average target price of $62.34.
• Significant insider buying occurred recently: Director Robert Holmes Swan purchased 11,781 shares and Director Timothy D. Cook bought 25,000 shares, with insiders acquiring 64,441 shares (~$2.73M) over the last three months.

Baypointe Partners LLC reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 85.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,939 shares of the footwear maker's stock after selling 128,061 shares during the period. NIKE accounts for approximately 2.9% of Baypointe Partners LLC's investment portfolio, making the stock its 11th largest holding. Baypointe Partners LLC's holdings in NIKE were worth $1,398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Guerra Advisors Inc acquired a new stake in shares of NIKE during the third quarter worth $34,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of NIKE during the third quarter worth $35,000. Accredited Wealth Management LLC grew its stake in shares of NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock worth $36,000 after purchasing an additional 376 shares during the period. Strive Asset Management LLC acquired a new stake in shares of NIKE during the third quarter worth $40,000. Finally, Matrix Trust Co grew its stake in shares of NIKE by 43.6% during the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker's stock worth $38,000 after purchasing an additional 181 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NIKE stock opened at $44.46 on Monday. 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 stock's 50-day moving average is $51.39 and its 200-day moving average is $59.65. The firm has a market cap of $65.85 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. NIKE, Inc. has a one year low of $42.09 and a one year high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last released its 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. The business had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.NIKE's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 earnings per share. Equities analysts predict that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were given a $0.41 dividend. The ex-dividend date of this dividend was Monday, March 2nd. 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%.

Analyst Ratings Changes

Several research firms have weighed in on NKE. CICC Research lowered NIKE from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $69.00 to $58.00 in a report on Monday, April 6th. DZ Bank reiterated a "buy" rating on shares of NIKE in a report on Tuesday, April 21st. Barclays reduced their target price on NIKE from $73.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, April 1st. Williams Trading reduced their target price on NIKE from $80.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, April 1st. Finally, Wall Street Zen lowered NIKE from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Seventeen analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, NIKE has an average rating of "Hold" and an average target price of $62.34.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 11,781 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were acquired at an average price of $42.44 per share, with a total value of $499,985.64. Following the completion of the transaction, the director owned 55,074 shares in the company, valued at $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy D. Cook bought 25,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the transaction, the director owned 130,480 shares of the company's stock, valued at $5,536,266.40. The trade was a 23.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 64,441 shares of company stock worth $2,734,204 in the last three months. Insiders own 0.80% of the company's stock.

NIKE Company 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).

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.