Rockland Trust Co. Increases Stake in NIKE, Inc. $NKE

Key Points

• Rockland Trust raised its stake in NIKE by 6.4%, adding 22,848 shares to hold 381,734 shares worth about $24.32 million at quarter end.
• Multiple large institutions — including DZ BANK, Invesco, Jennison, Ameriprise and Harris Associates — also made sizable buys, leaving institutional investors with roughly 64.25% ownership of NIKE.
• NIKE beat Q3 revenue and EPS estimates, but management flagged weak demand in China and margin/cash-flow pressure; analysts rate the stock a consensus "Moderate Buy" with a $73.20 target, and NIKE pays a $0.41 quarterly dividend (≈3.1% yield).

Rockland Trust Co. raised its position in NIKE, Inc. (NYSE:NKE - Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 381,734 shares of the footwear maker's stock after acquiring an additional 22,848 shares during the period. Rockland Trust Co.'s holdings in NIKE were worth $24,320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in NIKE by 3,129.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,091,426 shares of the footwear maker's stock valued at $645,855,000 after purchasing an additional 8,809,950 shares during the period. Harris Associates L P acquired a new position in NIKE during the 2nd quarter worth approximately $621,525,000. Invesco Ltd. raised its stake in shares of NIKE by 66.1% during the 2nd quarter. Invesco Ltd. now owns 12,157,198 shares of the footwear maker's stock worth $863,647,000 after buying an additional 4,840,114 shares in the last quarter. Jennison Associates LLC raised its stake in shares of NIKE by 42.3% during the 3rd quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker's stock worth $825,501,000 after buying an additional 3,518,666 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of NIKE by 129.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,849,636 shares of the footwear maker's stock valued at $411,951,000 after buying an additional 3,299,155 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Q3 beat on top and bottom lines — Nike reported revenue ~ $11.3B and EPS that beat consensus, with management citing better discount control and product launches that helped sales outperform expectations, supporting near-term confidence in the turnaround. Nike third-quarter sales beat estimates
• Positive Sentiment: Analyst and shop-floor endorsement — Several analysts and boutiques highlighted product innovation and progress on the “Win Now” initiatives, and some firms reaffirmed bullish views, giving the stock support after the print. Telsey Advisory: Product innovation key to return to growth
• Neutral Sentiment: Options and positioning amplified moves — Pre-earnings options flow showed upside-heavy positioning into the release, which can magnify intraday moves as traders adjust exposures after the print. Nike options chain shows upside-heavy positioning into earnings
• Neutral Sentiment: Macro/trade flows supporting a bounce — Some broader market buying into quarter-end and hopes around geopolitical stability boosted risk appetite, helping cyclical names like Nike. Month of March Goes Out Like a Bull
• Negative Sentiment: China remains a clear headwind — Management and reporting highlighted continued weak demand and execution issues in China, which pressured profit and investor confidence given China’s outsized long-term importance. Nike Third-Quarter Profit Declines as Weak Demand in China Drags On
• Negative Sentiment: Margin and cash-flow pressures noted — Reports and filings show gross-profit and operating-profit declines y/y, tariff-related margin pressure and weaker operating cash flow versus prior years, which leave longer-term improvement questions unanswered for some investors. Nike's China stumble exposes execution gaps

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NKE shares. Guggenheim restated a "buy" rating on shares of NIKE in a research note on Wednesday, December 31st. Oppenheimer reissued an "outperform" rating on shares of NIKE in a report on Wednesday, December 17th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a research report on Thursday, March 12th. BNP Paribas Exane lowered their price target on shares of NIKE from $38.00 to $35.00 and set an "underperform" rating on the stock in a research note on Friday, December 19th. Finally, Wells Fargo & Company set a $65.00 price target on shares of NIKE and gave the company an "overweight" rating in a report on Friday, December 19th. Twenty-two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, NIKE has an average rating of "Moderate Buy" and a consensus price target of $73.20.

NIKE Price Performance

NIKE stock opened at $52.83 on Wednesday. The firm has a market capitalization of $78.21 billion, a PE ratio of 31.08, a P/E/G ratio of 2.69 and a beta of 1.27. NIKE, Inc. has a 52 week low of $50.95 and a 52 week high of $80.17. The firm's 50-day simple moving average is $59.68 and its 200 day simple moving average is $63.66. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The firm had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period last year, the firm posted $0.54 EPS. The firm's revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, March 2nd. NIKE's dividend payout ratio (DPR) is 96.47%.

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).

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.