Corient Private Wealth LLC Has $38.64 Million Stock Position in NIKE, Inc. $NKE

Corient Private Wealth LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 12.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 606,819 shares of the footwear maker’s stock after purchasing an additional 67,647 shares during the period. Corient Private Wealth LLC’s holdings in NIKE were worth $38,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Union Savings Bank acquired a new stake in NIKE during the 4th quarter valued at $83,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of NIKE during the fourth quarter worth $57,000. Mengis Capital Management Inc. grew its holdings in shares of NIKE by 42.2% during the fourth quarter. Mengis Capital Management Inc. now owns 51,721 shares of the footwear maker’s stock worth $3,295,000 after purchasing an additional 15,351 shares during the last quarter. AG Campbell Advisory LLC acquired a new stake in shares of NIKE in the fourth quarter valued at $624,000. Finally, Pure Financial Advisors LLC increased its stake in shares of NIKE by 5.3% in the fourth quarter. Pure Financial Advisors LLC now owns 5,785 shares of the footwear maker’s stock valued at $369,000 after buying an additional 293 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Barclays reiterated a Buy rating on NIKE, which can support sentiment by signaling that analysts still see upside in the stock. Barclays Remains a Buy on Nike (NKE)
• Positive Sentiment: NIKE outperformed the broader market in the latest trading session, suggesting traders may be positioning ahead of upcoming earnings and looking for signs that the turnaround is taking hold. Nike (NKE) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Coverage highlighted stronger traction in one major market and signs that NIKE’s recovery is gaining momentum, which could improve confidence in the company’s earnings outlook. Headed Into Earnings, Nike Stock Is Trading Lower Than It Was a Decade Ago. But Is the Turnaround Finally Working?

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. China Renaissance reduced their price target on shares of NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $54.00 to $51.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. BTIG Research dropped their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Bank of America reiterated a “neutral” rating and set a $55.00 target price (down from $73.00) on shares of NIKE in a research report on Wednesday, April 1st. Finally, Evercore lowered their price target on shares of NIKE from $69.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Fifteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.89.

NIKE Price Performance

Shares of NKE stock opened at $45.22 on Monday. The stock has a 50-day moving average price of $44.39 and a 200 day moving average price of $54.71. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The firm has a market cap of $66.97 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating 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 company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. Research analysts expect that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Dividend Announcement

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

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 4,000 shares of NIKE stock in a transaction on Thursday, April 9th. The shares were purchased at an average cost of $43.34 per share, with a total value of $173,360.00. Following the completion of the purchase, the director owned 41,022 shares in the company, valued at $1,777,893.48. The trade was a 10.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares in the company, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders acquired 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 owned by insiders.

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).