Cloverfields Capital Group LP Acquires 18,807 Shares of NIKE, Inc. $NKE

by · The Cerbat Gem

Cloverfields Capital Group LP boosted its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 31.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,832 shares of the footwear maker’s stock after acquiring an additional 18,807 shares during the period. NIKE makes up approximately 1.5% of Cloverfields Capital Group LP’s holdings, making the stock its 29th largest holding. Cloverfields Capital Group LP’s holdings in NIKE were worth $4,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new position in NIKE during the fourth quarter valued at about $29,000. Litman Gregory Wealth Management LLC bought a new position in NIKE during the fourth quarter valued at about $32,000. Gordian Capital Singapore Pte Ltd bought a new position in NIKE during the third quarter valued at about $35,000. Accredited Wealth Management LLC increased its stake in NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 376 shares during the period. Finally, Matrix Trust Co increased its stake in NIKE by 43.6% during the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 181 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. China Renaissance lowered their price target on NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Robert W. Baird lowered their price target on NIKE from $85.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Jefferies Financial Group lowered their price target on NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings lowered NIKE from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Finally, Sanford C. Bernstein restated a “buy” rating on shares of NIKE in a research note on Monday, May 11th. Fifteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of “Hold” and an average target price of $60.89.

Check Out Our Latest Stock Analysis on NKE

Insider Buying and Selling at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the transaction, 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 disclosure for this purchase is available in the SEC filing. Insiders purchased 64,441 shares of company stock worth $2,734,204 over the last 90 days. Company insiders own 0.80% of the company’s stock.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

  • Positive Sentiment: Recent coverage highlighted Nike’s “running revival,” suggesting improving momentum in its running category could help refresh the growth story and support a longer-term turnaround. How Nike’s Running Revival Changes The Nike Stock Story
  • Neutral Sentiment: Nike’s World Cup marketing push is aimed at strengthening brand visibility versus Adidas, but it is more of a strategic brand-building effort than an immediate earnings catalyst. Nike’s World Cup play: take on Adidas and revitalize the brand
  • Neutral Sentiment: EVP Philip McCartney sold 17,398 shares under a pre-arranged 10b5-1 plan to cover tax withholding tied to vesting equity awards, which is routine but still adds to investor caution around insider activity. SEC filing
  • Negative Sentiment: RBC Capital and other commentators downgraded Nike or reiterated skepticism, arguing the turnaround is progressing more slowly than expected and raising concerns about margins, profit goals, and the pace of operational improvement. Nike (NKE) was downgraded to a Hold Rating at RBC Capital
  • Negative Sentiment: Recent market commentary said Nike is “still running in place” and has limited time to prove its turnaround, reinforcing worries that the stock may remain range-bound until fundamentals improve. Nike still running in place as turnaround taking longer than expected — RBC Capital

NIKE Trading Down 2.3%

Shares of NKE opened at $44.90 on Friday. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $44.26 and a 200-day simple moving average of $55.45. The stock has a market cap of $66.49 billion, a PE ratio of 29.73, a PEG ratio of 1.99 and a beta of 1.12.

NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the prior year, the firm posted $0.54 EPS. NIKE’s quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. NIKE’s dividend payout ratio is presently 108.61%.

About NIKE

(Free Report)

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).

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