Sustainable Growth Advisers LP Purchases 62,483 Shares of NIKE, Inc. $NKE

Sustainable Growth Advisers LP boosted its position in NIKE, Inc. (NYSE:NKE) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,789,888 shares of the footwear maker’s stock after purchasing an additional 62,483 shares during the period. NIKE makes up approximately 1.2% of Sustainable Growth Advisers LP’s investment portfolio, making the stock its 28th biggest holding. Sustainable Growth Advisers LP owned approximately 0.19% of NIKE worth $177,744,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NKE. Nomura Asset Management Co. Ltd. increased its position in shares of NIKE by 17.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 731,159 shares of the footwear maker’s stock worth $46,582,000 after acquiring an additional 107,282 shares during the period. Essex Financial Services Inc. increased its position in shares of NIKE by 11.5% during the fourth quarter. Essex Financial Services Inc. now owns 7,555 shares of the footwear maker’s stock worth $481,000 after acquiring an additional 781 shares during the period. Founders Financial Securities LLC increased its position in shares of NIKE by 14.1% during the fourth quarter. Founders Financial Securities LLC now owns 5,506 shares of the footwear maker’s stock worth $351,000 after acquiring an additional 682 shares during the period. MUFG Securities EMEA plc increased its position in shares of NIKE by 114.3% during the fourth quarter. MUFG Securities EMEA plc now owns 48,719 shares of the footwear maker’s stock worth $3,104,000 after acquiring an additional 25,980 shares during the period. Finally, Texas Yale Capital Corp. increased its position in shares of NIKE by 10.2% during the fourth quarter. Texas Yale Capital Corp. now owns 263,053 shares of the footwear maker’s stock worth $16,759,000 after acquiring an additional 24,270 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, CEO Elliott Hill acquired 23,660 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was purchased at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the acquisition, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. acquired 4,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were acquired at an average price of $43.34 per share, with a total value of $173,360.00. Following the acquisition, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. The trade was a 10.80% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE stock opened at $45.93 on Tuesday. The firm has a market cap of $68.01 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.45 and a beta of 1.12. The company’s 50 day moving average is $45.60 and its 200 day moving average is $56.61. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 52-week low of $41.35 and a 52-week high of $80.17.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. NIKE’s revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, June 1st. NIKE’s dividend payout ratio is currently 108.61%.

Analyst Ratings Changes

A number of brokerages have recently commented on NKE. CICC Research lowered shares of NIKE from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 target price (down from $60.00) on shares of NIKE in a research report on Friday, April 10th. Berenberg Bank reaffirmed a “neutral” rating on shares of NIKE in a research report on Wednesday, May 6th. UBS Group reduced their target price on shares of NIKE from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Finally, Telsey Advisory Group reduced their target price on shares of NIKE from $65.00 to $55.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of “Hold” and an average price target of $62.04.

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).