NIKE, Inc. $NKE Holdings Boosted by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its NIKE stake by 23.1% in the fourth quarter, bringing its holdings to 1,785,365 shares worth about $113.7 million.
• NIKE shares were down 4.8% to $43.72, near the low end of their 52-week range, even as the company reported quarterly earnings of $0.35 per share, topping estimates.
• Despite strong recent insider buying and a 3.8% dividend yield, Wall Street remains cautious: analysts currently rate NIKE a consensus Hold with an average price target of $62.04.

Natixis Advisors LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 23.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,785,365 shares of the footwear maker's stock after purchasing an additional 334,690 shares during the period. Natixis Advisors LLC owned 0.12% of NIKE worth $113,746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Norges Bank purchased a new position in NIKE during the 4th quarter worth approximately $829,956,000. Harris Associates L P purchased a new position in NIKE during the 2nd quarter worth approximately $621,525,000. Ameriprise Financial Inc. grew its position in NIKE by 129.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,849,636 shares of the footwear maker's stock worth $411,951,000 after purchasing an additional 3,299,155 shares in the last quarter. Flossbach Von Storch SE grew its position in NIKE by 29.3% during the 4th quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker's stock worth $812,514,000 after purchasing an additional 2,886,856 shares in the last quarter. Finally, Sustainable Growth Advisers LP purchased a new position in NIKE during the 3rd quarter worth approximately $190,182,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 4.8%

NIKE stock opened at $43.72 on Wednesday. The company's fifty day simple moving average is $45.60 and its 200-day simple moving average is $56.61. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17. The stock has a market cap of $64.75 billion, a P/E ratio of 28.96, a P/E/G ratio of 1.96 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business had revenue of $11.28 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the previous year, the company posted $0.54 EPS. NIKE's revenue was up .1% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Dividend Announcement

The business 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. This represents a $1.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, June 1st. NIKE's payout ratio is currently 108.61%.

Insider Buying and Selling at NIKE

In other NIKE news, CEO Elliott Hill acquired 23,660 shares of NIKE stock in a transaction that occurred 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 purchase, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy D. Cook acquired 25,000 shares of NIKE stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the purchase, the director owned 130,480 shares in the company, valued at $5,536,266.40. The trade was a 23.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 64,441 shares of company stock worth $2,734,204 in the last 90 days. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NKE shares. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of NIKE in a research report on Monday, April 13th. Williams Trading lowered their price objective on shares of NIKE from $80.00 to $57.00 and set a "buy" rating on the stock in a research report on Wednesday, April 1st. The Goldman Sachs Group reiterated a "neutral" rating and set a $52.00 price objective (down from $76.00) on shares of NIKE in a research report on Wednesday, April 1st. Telsey Advisory Group lowered their price target on shares of NIKE from $65.00 to $55.00 and set a "market perform" rating on the stock in a report on Wednesday, April 1st. Finally, Robert W. Baird lowered their price target on shares of NIKE from $85.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company 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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