Riverwater Partners LLC Buys Shares of 4,633 NIKE, Inc. (NYSE:NKE)

Riverwater Partners LLC bought a new position in NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,633 shares of the footwear maker’s stock, valued at approximately $351,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NKE. Norges Bank acquired a new stake in NIKE in the fourth quarter valued at approximately $1,126,288,000. Wellington Management Group LLP lifted its stake in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after purchasing an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp increased its position in NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after buying an additional 2,357,745 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of several recent analyst reports. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Stifel Nicolaus restated a “hold” rating and issued a $75.00 price objective on shares of NIKE in a research note on Friday. Barclays lowered their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Truist Financial cut their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.38.

NIKE Stock Up 2.9 %

NKE opened at $57.17 on Friday. The firm has a market cap of $84.57 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm’s 50-day simple moving average is $72.96 and its 200-day simple moving average is $76.33. NIKE, Inc. has a twelve month low of $52.50 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. Equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.