CenterBook Partners LP Grows Position in NIKE, Inc. $NKE

Key Points

• CenterBook Partners LP increased its NIKE stake by 86.5% in the fourth quarter, buying 54,571 additional shares and ending with 117,630 shares valued at about $7.5 million.
• Insider buying was notable, with CEO Elliott Hill and Director Robert Holmes Swan both purchasing shares in April; insiders bought 64,441 shares over the last three months.
• NIKE reported quarterly earnings of $0.35 per share, topping estimates, while revenue also slightly beat forecasts. The company also announced a quarterly dividend of $0.41 per share, though several analysts recently trimmed price targets and the stock remains rated Hold overall.

CenterBook Partners LP grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 86.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,630 shares of the footwear maker's stock after purchasing an additional 54,571 shares during the quarter. CenterBook Partners LP's holdings in NIKE were worth $7,494,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Main Street Financial Solutions LLC boosted its stake in shares of NIKE by 4.2% during 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 period. Diligent Investors LLC boosted its stake in shares of 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 purchasing an additional 153 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in NIKE by 4.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker's stock worth $253,000 after acquiring an additional 163 shares during the period. Lakeshore Capital Group Inc. lifted its stake in NIKE by 2.9% in the fourth quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker's stock worth $374,000 after acquiring an additional 165 shares during the period. Finally, TPG Financial Advisors LLC lifted its stake in NIKE by 4.8% in the third quarter. TPG Financial Advisors LLC now owns 3,666 shares of the footwear maker's stock worth $256,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In other news, CEO Elliott Hill acquired 23,660 shares of the stock in a transaction on Monday, April 13th. The stock was acquired at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer owned 265,247 shares of the company's stock, valued at $11,211,990.69. This represents a 9.79% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan acquired 11,781 shares of the stock in a transaction 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 transaction, the director directly owned 55,074 shares of the company's stock, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 64,441 shares of company stock worth $2,734,204. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Performance

Shares of NIKE stock opened at $43.05 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $63.75 billion, a P/E ratio of 28.51, a P/E/G ratio of 1.86 and a beta of 1.12. The business has a fifty day simple moving average of $44.85 and a two-hundred day simple moving average of $56.03. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given 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 yield of 3.8%. NIKE's dividend payout ratio (DPR) is currently 108.61%.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is leaning into its football business ahead of the World Cup, and analysts said the company’s investor event reinforced CEO Elliott Hill’s plan to rebuild the brand sport by sport and region by region. That could support the long-term turnaround narrative. Nike bets big on Beautiful Game ahead of World Cup
• Positive Sentiment: Investor interest in NIKE remains elevated, with recent coverage highlighting that the stock is still drawing attention from market watchers as they evaluate the company’s outlook and earnings trajectory. NIKE, Inc. (NKE) is Attracting Investor Attention: Here is What You Should Know
• Positive Sentiment: NIKE continues to push a high-profile marketing campaign, “Rip The Script,” featuring major athletes and celebrities, which may help brand visibility and demand heading into a key sports calendar. NKE Stock Eyes Red Week Ahead Of FIFA World Cup: Nike’s Star-Studded Campaign Can’t Stop It From Falling
• Neutral Sentiment: Several articles focused on shifting investor narratives and watched-the-stock commentary, but no new price target or major fundamental update was announced, limiting the immediate catalyst. How The Narrative Around Nike (NKE) Is Evolving Without A New Price Target
• Neutral Sentiment: Commentary on a possible legal inquiry about insider duties did not provide clear evidence of wrongdoing, so it is more of a headline risk than a confirmed stock-moving event. Did NIKE, Inc. Insiders Breach their Fiduciary Duties to Shareholders?
• Negative Sentiment: Some coverage suggests NIKE still faces questions about regaining momentum in a changing consumer market, while the stock has also been pressured by broader concerns that the turnaround may take time. Can Nike Regain Momentum In A Changing Consumer Market?
• Negative Sentiment: Market chatter also highlights a “red week” narrative ahead of the FIFA World Cup, implying investors remain skeptical that NIKE’s ad campaign alone will quickly reverse the stock’s weakness. Curry Defection And World Cup Push Test Nike Turnaround Expectations

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. CICC Research lowered NIKE from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $69.00 to $58.00 in a research note on Monday, April 6th. Telsey Advisory Group dropped their price target on NIKE from $65.00 to $55.00 and set a "market perform" rating for the company in a research note on Wednesday, April 1st. Bank of America reaffirmed a "neutral" rating and issued a $55.00 price target (down from $73.00) on shares of NIKE in a research note on Wednesday, April 1st. Zacks Research lowered NIKE from a "hold" rating to a "strong sell" rating in a research note on Monday, June 1st. Finally, Stifel Nicolaus dropped their price target on NIKE from $65.00 to $56.00 and set a "hold" rating for the company in a research note on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $62.04.

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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