Bleakley Financial Group LLC Has $2.57 Million Holdings in NIKE, Inc. $NKE

Key Points

• Bleakley Financial Group LLC boosted its NIKE stake by 186.5% in the fourth quarter, ending with 40,373 shares worth about $2.57 million.
• Insiders were buying: directors John W. Rogers Jr. and Robert Holmes Swan purchased shares in April, and insiders bought a total of 64,441 shares over the past 90 days.
• Analysts are becoming more cautious on NIKE, with several firms cutting price targets; the stock currently has a Hold consensus and an average target price of $62.04.

Bleakley Financial Group LLC increased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 186.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,373 shares of the footwear maker's stock after purchasing an additional 26,283 shares during the period. Bleakley Financial Group LLC's holdings in NIKE were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Vanguard Group Inc. raised its holdings in NIKE by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker's stock valued at $7,453,658,000 after acquiring an additional 1,702,342 shares during the period. Capital World Investors raised its holdings in NIKE by 0.7% in the 3rd quarter. Capital World Investors now owns 42,239,013 shares of the footwear maker's stock valued at $2,945,326,000 after acquiring an additional 286,615 shares during the period. Flossbach Von Storch SE raised its holdings in NIKE by 29.3% in the 4th quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker's stock valued at $812,514,000 after acquiring an additional 2,886,856 shares during the period. Invesco Ltd. raised its holdings in NIKE by 3.3% in the 3rd quarter. Invesco Ltd. now owns 12,561,334 shares of the footwear maker's stock valued at $875,902,000 after acquiring an additional 404,136 shares during the period. Finally, Viking Global Investors LP raised its holdings in NIKE by 29.1% in the 3rd quarter. Viking Global Investors LP now owns 8,996,579 shares of the footwear maker's stock valued at $627,331,000 after acquiring an additional 2,029,381 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 4,000 shares of the company's stock in a transaction dated Thursday, April 9th. The stock was purchased at an average price of $43.34 per share, with a total value of $173,360.00. Following the completion of the purchase, the director owned 41,022 shares of the company's stock, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Holmes Swan bought 11,781 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were purchased at an average cost of $42.44 per share, with a total value of $499,985.64. Following the purchase, the director directly owned 55,074 shares of the company's stock, valued at $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 64,441 shares of company stock worth $2,734,204 over the last ninety days. Insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent research reports. CICC Research cut shares of NIKE from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $69.00 to $58.00 in a report on Monday, April 6th. Barclays lowered their target price on shares of NIKE from $73.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, April 1st. HSBC cut shares of NIKE from a "buy" rating to a "hold" rating and lowered their target price for the stock from $90.00 to $48.00 in a report on Monday, April 13th. China Renaissance lowered their target price on shares of NIKE from $74.60 to $50.30 and set a "hold" rating on the stock in a report on Thursday, April 2nd. Finally, BTIG Research reduced their price target on shares of NIKE from $90.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, April 1st. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $62.04.

NIKE Price Performance

NKE stock opened at $45.96 on Thursday. The company has a fifty day moving average price of $46.05 and a 200-day moving average price of $56.93. The company has a market capitalization of $68.06 billion, a P/E ratio of 30.44, a PEG ratio of 2.38 and a beta of 1.12. NIKE, Inc. has a 52-week low of $41.35 and a 52-week high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 earnings per share. As a group, equities analysts expect that NIKE, Inc. will post 1.51 EPS for the current 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 paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. NIKE's dividend payout ratio (DPR) is presently 108.61%.

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).

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