Robertson Stephens Wealth Management LLC Increases Position in NIKE, Inc. $NKE

Key Points

• Robertson Stephens boosted its NIKE stake by 542.7% in Q4, ending the period with 32,033 shares worth about $2.04 million.
• Notable insider buying: CEO Elliott Hill purchased 23,660 shares at ~$42.27 and director John W. Rogers Jr. bought 4,000 shares, with insiders acquiring 64,441 shares in the past 90 days.
• NIKE slightly beat the quarter (EPS $0.35 vs. $0.29; revenue $11.28B), pays a $0.41 quarterly dividend (3.7% yield) but has a high payout ratio (108.6%); analysts’ consensus is a “Hold” with an average target of $62.34.

Robertson Stephens Wealth Management LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 542.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,033 shares of the footwear maker's stock after buying an additional 27,049 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in NIKE were worth $2,043,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Harris Associates L P acquired a new stake in NIKE during the 2nd quarter valued at approximately $621,525,000. Jennison Associates LLC lifted its stake in NIKE by 42.3% during the 3rd quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker's stock valued at $825,501,000 after acquiring an additional 3,518,666 shares during the period. Ameriprise Financial Inc. lifted its stake in NIKE by 129.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,849,636 shares of the footwear maker's stock valued at $411,951,000 after acquiring an additional 3,299,155 shares during the period. Flossbach Von Storch SE lifted its stake 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 valued at $812,514,000 after acquiring an additional 2,886,856 shares during the period. Finally, Sustainable Growth Advisers LP acquired a new stake in NIKE during the 3rd quarter valued at approximately $190,182,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NKE opened at $44.46 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The firm has a fifty day moving average price of $51.39 and a 200 day moving average price of $59.70. NIKE, Inc. has a 1 year low of $42.09 and a 1 year high of $80.17. The stock has a market cap of $65.85 billion, a P/E ratio of 29.45, a P/E/G ratio of 2.36 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (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 firm had revenue of $11.28 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the previous year, the business posted $0.54 EPS. The business's revenue was up .1% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, March 2nd. NIKE's payout ratio is currently 108.61%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Sanford C. Bernstein restated a "buy" rating on shares of NIKE in a research note on Friday, April 24th. Royal Bank Of Canada restated a "buy" rating on shares of NIKE in a research note on Wednesday, April 1st. Truist Financial decreased their price objective on shares of NIKE from $69.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. Evercore decreased their price objective on shares of NIKE from $69.00 to $57.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. Finally, Barclays decreased their price objective on shares of NIKE from $73.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. Seventeen research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, NIKE presently has an average rating of "Hold" and an average target price of $62.34.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The stock was purchased at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Elliott Hill bought 23,660 shares of the firm's stock in a transaction that occurred on Monday, April 13th. The stock was purchased at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of 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 disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is currently owned by company insiders.

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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