Roundview Capital LLC Cuts Stake in NIKE, Inc. $NKE

Key Points

• Roundview Capital LLC cut its NIKE stake by 43.3% in the fourth quarter, selling 34,148 shares and ending with 44,774 shares worth about $2.85 million.
• NIKE reported better-than-expected quarterly results, posting EPS of $0.35 versus $0.29 expected and revenue of $11.28 billion, slightly above estimates.
• The company announced a quarterly dividend of $0.41 per share, and insiders have been buying shares recently, including directors Robert Holmes Swan and John W. Rogers, Jr.

Roundview Capital LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 43.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,774 shares of the footwear maker's stock after selling 34,148 shares during the quarter. Roundview Capital LLC's holdings in NIKE were worth $2,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NKE. Guerra Advisors Inc bought a new position in shares of NIKE during the third quarter valued at about $34,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of NIKE during the third quarter valued at about $35,000. Accredited Wealth Management LLC grew its stake in shares of NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock valued at $36,000 after buying an additional 376 shares during the last quarter. Matrix Trust Co grew its stake in shares of NIKE by 43.6% during the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker's stock valued at $38,000 after buying an additional 181 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new position in shares of NIKE during the fourth quarter valued at about $40,000. 64.25% of the stock is owned by institutional investors.

NIKE Trading Up 2.3%

NKE opened at $45.96 on Thursday. The business has a 50 day simple moving average of $46.05 and a two-hundred day simple moving average of $56.93. The firm has a market capitalization of $68.06 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. NIKE, Inc. has a one year low of $41.35 and a one year high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the prior year, the company posted $0.54 EPS. NIKE's quarterly revenue was up .1% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. NIKE's dividend payout ratio (DPR) is currently 108.61%.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan bought 11,781 shares of the company's stock in a transaction dated Tuesday, April 7th. The stock was purchased at an average cost of $42.44 per share, with a total value of $499,985.64. Following the transaction, the director owned 55,074 shares in the company, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Rogers, Jr. bought 4,000 shares of the company's stock in a transaction dated Thursday, April 9th. The stock was bought at an average cost of $43.34 per share, with a total value 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. This trade represents a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Berenberg Bank reaffirmed a "neutral" rating on shares of NIKE in a research note on Wednesday, May 6th. DA Davidson downgraded shares of NIKE from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. BTIG Research decreased their target price on shares of NIKE from $90.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. UBS Group decreased their target price on shares of NIKE from $58.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 1st. Finally, BNP Paribas Exane decreased their target price on shares of NIKE from $35.00 to $23.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $62.04.

NIKE 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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