Rockland Trust Co. Raises Stock Holdings in NIKE, Inc. $NKE

Rockland Trust Co. lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new position in NIKE in the 2nd quarter valued at about $31,000. Guerra Advisors Inc acquired a new stake in shares of NIKE during the 3rd quarter worth about $34,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of NIKE during the third quarter worth about $35,000. Accredited Wealth Management LLC grew its holdings 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 worth $36,000 after buying an additional 376 shares in the last quarter. Finally, Matrix Trust Co raised its position in shares of NIKE by 43.6% in 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. 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

NIKE Price Performance

NIKE stock opened at $52.83 on Wednesday. NIKE, Inc. has a 1 year low of $50.95 and a 1 year high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06. The firm has a 50 day moving average price of $59.68 and a 200 day moving average price of $63.66. The company has a market cap of $78.21 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 2.69 and a beta of 1.27.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. NIKE’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a $0.41 dividend. This represents a $1.64 annualized dividend 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%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NKE. Barclays raised shares of NIKE from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $64.00 to $73.00 in a research note on Wednesday, March 11th. Telsey Advisory Group cut their price target on NIKE from $72.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, March 25th. Williams Trading reduced their price target on NIKE from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Berenberg Bank restated a “neutral” rating and set a $70.00 price objective on shares of NIKE in a report on Friday, December 19th. Finally, DZ Bank reaffirmed a “buy” rating on shares of NIKE in a research report on Friday, December 19th. Twenty-two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

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).