Rip Road Capital Partners LP Lowers Position in NIKE, Inc. (NYSE:NKE)

Rip Road Capital Partners LP trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 51.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,543 shares of the footwear maker’s stock after selling 32,854 shares during the quarter. NIKE makes up about 2.0% of Rip Road Capital Partners LP’s portfolio, making the stock its 16th biggest holding. Rip Road Capital Partners LP’s holdings in NIKE were worth $2,311,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NKE. JNBA Financial Advisors raised its position in shares of NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after purchasing an additional 136 shares during the period. Elgethun Capital Management raised its holdings in shares of NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock worth $94,000 after purchasing an additional 149 shares during the period. Game Plan Financial Advisors LLC lifted its position in shares of NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after buying an additional 150 shares during the last quarter. Finally, AlTi Global Inc. boosted its holdings in shares of NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock valued at $2,813,000 after buying an additional 150 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. China Renaissance assumed coverage on shares of NIKE in a report on Wednesday, March 19th. They issued a “hold” rating on the stock. Piper Sandler cut their price target on NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Williams Trading reduced their price objective on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Morgan Stanley dropped their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Finally, Robert W. Baird cut their price objective on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $80.30.

NIKE Price Performance

Shares of NYSE NKE opened at $61.77 on Thursday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $61.57 and a two-hundred day moving average of $70.96. The company has a market capitalization of $91.37 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.59%. NIKE’s dividend payout ratio is currently 53.16%.

NIKE Company Profile

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.