NIKE, Inc. $NKE Shares Purchased by Fiduciary Alliance LLC

Key Points

• Fiduciary Alliance LLC dramatically boosted its NIKE stake in the first quarter, increasing its position by 1,438.7% to 50,146 shares worth about $2.65 million.
• NIKE’s latest results slightly beat expectations, with quarterly EPS of $0.35 versus $0.29 estimated and revenue of $11.28 billion versus $11.23 billion expected, though revenue was nearly flat year over year.
• Analysts remain cautious overall: the stock has a consensus Hold rating with a $59.40 price target, even as some firms kept Buy ratings and investors watch for signs that the company’s turnaround strategy is gaining traction.

Fiduciary Alliance LLC increased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 1,438.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,146 shares of the footwear maker's stock after acquiring an additional 46,887 shares during the period. Fiduciary Alliance LLC's holdings in NIKE were worth $2,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

NKE has been the topic of several research reports. KeyCorp downgraded shares of NIKE from a "sector weight" rating to a "sector weight" rating in a report on Friday. BTIG Research reaffirmed a "buy" rating and issued a $55.00 price objective (down from $75.00) on shares of NIKE in a report on Thursday. Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Guggenheim reduced their target price on shares of NIKE from $77.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. Finally, CICC Research cut shares of NIKE from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $69.00 to $58.00 in a report on Monday, April 6th. Thirteen equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of "Hold" and a consensus price target of $59.40.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Neutral Sentiment: Wells Fargo gave Nike a Hold rating, reflecting a cautious stance ahead of earnings. Wells Fargo Gives a Hold Rating to Nike (NKE)
• Positive Sentiment: Sanford C. Bernstein reaffirmed a Buy rating, suggesting some analysts still see upside despite the turnaround challenges. Nike Inc. Receives a Buy Rating from Bernstein
• Neutral Sentiment: Upcoming fourth-quarter earnings and guidance are the main catalyst, with investors watching whether Nike’s “Win Now” strategy is starting to improve results. Nike Wants to Make a Comeback. Should You Buy the Stock Before June 30?
• Negative Sentiment: A reported plan to restrict Chinese distributors’ online sales was criticized as a strategic mistake, raising concern about Nike’s China strategy and future growth. NKE Stock Slips On China Business Strategy Misstep And Surprise CFO Change Before Earnings
• Negative Sentiment: Nike’s surprise CFO transition is adding uncertainty, with analysts warning that the turnaround may take several more quarters to show clear progress. Nike's New CFO Won't Speed Up Its Turnaround

NIKE Stock Down 2.5%

Shares of NKE stock opened at $40.79 on Friday. NIKE, Inc. has a twelve month low of $40.44 and a twelve month high of $80.17. The stock has a market cap of $60.40 billion, a P/E ratio of 27.01, a P/E/G ratio of 1.81 and a beta of 1.12. The stock has a 50 day moving average of $44.29 and a 200 day moving average of $54.05. 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 released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion for 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 business's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, sell-side analysts expect that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.41 per share. 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 4.0%. NIKE's dividend payout ratio is 108.61%.

Insider Activity

In other news, Director John W. Rogers, Jr. acquired 4,000 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was acquired at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the transaction, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy D. Cook bought 25,000 shares of the stock in a transaction dated Friday, April 10th. The shares were purchased at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the purchase, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 64,441 shares of company stock valued at $2,734,204 in the last three months. Corporate insiders own 0.80% of the company's stock.

About NIKE

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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