Rothschild Investment LLC Cuts Stake in NIKE, Inc. $NKE

Rothschild Investment LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 12.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 141,671 shares of the footwear maker’s stock after selling 20,101 shares during the quarter. Rothschild Investment LLC’s holdings in NIKE were worth $9,026,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NKE. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of NIKE in the 4th quarter worth $563,000. Foundations Investment Advisors LLC increased its holdings in shares of NIKE by 59.4% in the 4th quarter. Foundations Investment Advisors LLC now owns 11,108 shares of the footwear maker’s stock worth $708,000 after purchasing an additional 4,138 shares in the last quarter. Murphy & Mullick Capital Management Corp increased its holdings in shares of NIKE by 28.9% in the 4th quarter. Murphy & Mullick Capital Management Corp now owns 4,442 shares of the footwear maker’s stock worth $283,000 after purchasing an additional 997 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of NIKE by 2,559.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 758,707 shares of the footwear maker’s stock valued at $48,337,000 after acquiring an additional 730,176 shares during the last quarter. Finally, Eaton Financial Holdings Company LLC boosted its holdings in shares of NIKE by 5.3% during the 4th quarter. Eaton Financial Holdings Company LLC now owns 15,756 shares of the footwear maker’s stock valued at $1,004,000 after acquiring an additional 799 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $52.00 price target (down from $76.00) on shares of NIKE in a report on Wednesday, April 1st. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price target (down from $60.00) on shares of NIKE in a report on Friday, April 10th. Telsey Advisory Group dropped their price target on shares of NIKE from $65.00 to $55.00 and set a “market perform” rating on the stock in a report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of NIKE in a report on Monday, April 13th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.04.

NIKE Stock Performance

NKE opened at $47.40 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The company has a market cap of $70.20 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 2.44 and a beta of 1.12. The company’s 50 day moving average is $45.89 and its 200 day moving average is $56.84. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. 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 4.84% and a return on equity of 16.41%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. On average, equities research analysts predict that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.5%. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 4,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were bought at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the transaction, the director owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Elliott Hill bought 23,660 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were bought at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the transaction, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at $11,211,990.69. This represents a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 64,441 shares of company stock valued at $2,734,204 over the last three months. 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).