RiverPark Advisors LLC Grows Holdings in NIKE, Inc. (NYSE:NKE)

RiverPark Advisors LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,696 shares of the footwear maker’s stock after purchasing an additional 2,228 shares during the quarter. NIKE makes up 1.8% of RiverPark Advisors LLC’s holdings, making the stock its 18th biggest position. RiverPark Advisors LLC’s holdings in NIKE were worth $2,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of NKE. Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at about $1,315,097,000. Price T Rowe Associates Inc. MD grew its position in shares of NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Capital International Investors grew its position in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Jennison Associates LLC grew its position in shares of NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its position in shares of NIKE by 13,094.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock valued at $169,722,000 after purchasing an additional 1,551,405 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Down 0.8 %

NYSE NKE traded down $0.57 on Tuesday, hitting $72.48. 23,452,729 shares of the stock were exchanged, compared to its average volume of 11,053,622. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a fifty-two week low of $72.38 and a fifty-two week high of $123.39. The company has a market cap of $109.40 billion, a PE ratio of 19.43, a PEG ratio of 1.85 and a beta of 1.01. The company has a 50-day moving average price of $90.63 and a 200-day moving average price of $96.64.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that NIKE, Inc. will post 3.23 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.04%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent research reports. Bank of America lowered their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Morgan Stanley restated an “equal weight” rating and set a $79.00 price target (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Piper Sandler lowered their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Royal Bank of Canada lowered their price target on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $97.19.

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.