NIKE, Inc. $NKE Shares Purchased by Rip Road Capital Partners LP

Key Points

• Rip Road Capital Partners LP increased its position in NIKE, Inc. by 24.9%, acquiring an additional 7,600 shares, which now makes up about 2.7% of their portfolio.
• NIKE reported earnings of $0.14 per share for the recent quarter, exceeding analysts' expectations and generating revenues of $11.10 billion, despite an 11.9% decline compared to the previous year.
• The company has announced a quarterly dividend of $0.40, with an annual yield of 2.2% and a payout ratio of 74.07%.

Rip Road Capital Partners LP increased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 24.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,143 shares of the footwear maker's stock after buying an additional 7,600 shares during the period. NIKE accounts for 2.7% of Rip Road Capital Partners LP's holdings, making the stock its 15th biggest position. Rip Road Capital Partners LP's holdings in NIKE were worth $2,421,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter worth $28,000. Stone House Investment Management LLC purchased a new position in NIKE during the first quarter valued at $25,000. Saudi Central Bank purchased a new position in NIKE during the first quarter valued at $30,000. Putney Financial Group LLC purchased a new position in NIKE during the fourth quarter valued at $40,000. Finally, Minot DeBlois Advisors LLC purchased a new position in NIKE during the fourth quarter valued at $42,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on NKE. Citigroup increased their price objective on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, June 27th. Wells Fargo & Company increased their price objective on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Argus raised shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Royal Bank Of Canada decreased their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Finally, Needham & Company LLC increased their price objective on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.22.

NIKE Price Performance

Shares of NYSE NKE traded down $0.55 during mid-day trading on Tuesday, reaching $73.60. The company's stock had a trading volume of 8,711,811 shares, compared to its average volume of 9,686,114. The stock has a 50-day moving average of $75.54 and a two-hundred day moving average of $67.87. The stock has a market capitalization of $108.70 billion, a P/E ratio of 34.07, a P/E/G ratio of 2.69 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.