Corient Private Wealth LLC Has $38.64 Million Holdings in NIKE, Inc. $NKE

Key Points

• Corient Private Wealth LLC boosted its NIKE stake by 12.5% in the fourth quarter, ending with 606,819 shares valued at about $38.64 million.
• NIKE reported quarterly earnings of $0.35 per share, topping estimates, with revenue of $11.28 billion; analysts now expect full-year EPS of 1.49.
• Sentiment remains mixed but generally stable: Barclays reiterated a Buy rating, while other firms trimmed price targets, and NIKE also announced a quarterly dividend of $0.41 per share for a 3.6% annualized yield.

Corient Private Wealth LLC increased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 12.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 606,819 shares of the footwear maker's stock after acquiring an additional 67,647 shares during the quarter. Corient Private Wealth LLC's holdings in NIKE were worth $38,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NKE. Cornerstone Financial Management LLC acquired a new position in shares of NIKE during the 4th quarter worth about $26,000. Sankala Group LLC acquired a new stake in NIKE in the 4th quarter valued at approximately $26,000. J.Safra Asset Management Corp bought a new position in NIKE in the 4th quarter worth approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in shares of NIKE during the fourth quarter worth approximately $30,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in shares of NIKE during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Barclays reiterated a Buy rating on NIKE, which can support sentiment by signaling that analysts still see upside in the stock. Barclays Remains a Buy on Nike (NKE)
• Positive Sentiment: NIKE outperformed the broader market in the latest trading session, suggesting traders may be positioning ahead of upcoming earnings and looking for signs that the turnaround is taking hold. Nike (NKE) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Coverage highlighted stronger traction in one major market and signs that NIKE’s recovery is gaining momentum, which could improve confidence in the company’s earnings outlook. Headed Into Earnings, Nike Stock Is Trading Lower Than It Was a Decade Ago. But Is the Turnaround Finally Working?

NIKE Stock Performance

Shares of NYSE NKE opened at $45.22 on Monday. The firm has a market capitalization of $66.97 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a one year low of $41.35 and a one year high of $80.17. The business has a fifty day simple moving average of $44.39 and a 200 day simple moving average of $54.71. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm 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 earned $0.54 earnings per share. The business's revenue was up .1% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.6%. NIKE's payout ratio is presently 108.61%.

Analysts Set New Price Targets

NKE has been the subject of several research reports. Wells Fargo & Company set a $45.00 price objective on NIKE and gave the company an "equal weight" rating in a research report on Friday, May 8th. Telsey Advisory Group cut their target price on shares of NIKE from $65.00 to $55.00 and set a "market perform" rating for the company in a research note on Wednesday, April 1st. The Goldman Sachs Group reissued a "neutral" rating and issued a $52.00 price target on shares of NIKE in a report on Friday, June 5th. Citigroup decreased their price target on shares of NIKE from $53.00 to $47.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 10th. Finally, Barclays dropped their price objective 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. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, NIKE has a consensus rating of "Hold" and an average target price of $60.89.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. purchased 4,000 shares of the business's stock in a transaction on Thursday, April 9th. The stock was purchased at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the purchase, the director directly owned 41,022 shares in the company, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Holmes Swan acquired 11,781 shares of the firm's stock in a transaction on Tuesday, April 7th. The shares were bought at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the acquisition, the director directly owned 55,074 shares of the company's stock, valued at approximately $2,337,340.56. This represents a 27.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 64,441 shares of company stock valued at $2,734,204 over the last 90 days. Company insiders own 0.80% of the company's stock.

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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