PineStone Asset Management Inc. Boosts Stake in NIKE, Inc. $NKE

PineStone Asset Management Inc. lifted its holdings in NIKE, Inc. (NYSE:NKE) by 13.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,867,235 shares of the footwear maker’s stock after acquiring an additional 221,900 shares during the quarter. NIKE comprises approximately 0.7% of PineStone Asset Management Inc.’s holdings, making the stock its 28th biggest position. PineStone Asset Management Inc.’s holdings in NIKE were worth $118,962,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Main Street Financial Solutions LLC increased its position in shares of NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after acquiring an additional 139 shares during the last quarter. St. Clair Advisors LLC boosted its position in NIKE by 0.9% in the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after purchasing an additional 140 shares during the last quarter. Spirepoint Private Client LLC boosted its position in NIKE by 0.4% in the third quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock worth $2,520,000 after purchasing an additional 153 shares during the last quarter. CVA Family Office LLC grew its stake in NIKE by 8.0% in the 3rd quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock valued at $147,000 after purchasing an additional 156 shares during the period. Finally, Naples Global Advisors LLC grew its stake in NIKE by 1.9% in the 3rd quarter. Naples Global Advisors LLC now owns 8,514 shares of the footwear maker’s stock valued at $597,000 after purchasing an additional 159 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NKE shares. Daiwa Securities Group lowered their target price on NIKE from $75.00 to $61.00 in a research note on Tuesday, December 23rd. KeyCorp reduced their price target on shares of NIKE from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Needham & Company LLC downgraded shares of NIKE from a “buy” rating to a “hold” rating in a report on Thursday, January 8th. Berenberg Bank reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of NIKE in a research report on Friday, December 19th. Finally, DZ Bank reiterated a “buy” rating on shares of NIKE in a research note on Friday, December 19th. Twenty-two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.20.

NIKE Stock Up 3.1%

Shares of NYSE NKE opened at $52.83 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. The stock 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 one year low of $50.95 and a one year high of $80.17. The business’s fifty day moving average price is $59.68 and its 200-day moving average price is $63.66.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter 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 anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

Key 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 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).