NIKE, Inc. $NKE Stock Holdings Raised by CORDA Investment Management LLC.

CORDA Investment Management LLC. grew its stake in NIKE, Inc. (NYSE:NKE) by 12.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 196,382 shares of the footwear maker’s stock after purchasing an additional 21,181 shares during the quarter. CORDA Investment Management LLC.’s holdings in NIKE were worth $10,373,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC raised its position in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Caxton Associates LLP bought a new stake in NIKE during the first quarter valued at $311,000. United Bank increased its stake in NIKE by 11.3% during the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after purchasing an additional 1,736 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of NIKE by 0.3% during the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after purchasing an additional 197 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of NIKE by 6.5% during the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after purchasing an additional 11,646 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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. 0.80% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NIKE stock opened at $44.39 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $43.71 and its two-hundred day moving average price is $52.37. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17. The stock has a market cap of $65.73 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.56 and a beta of 1.12.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same period last year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 1.76 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, June 1st. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on NIKE from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Monday, June 29th. Needham & Company LLC restated a “hold” rating on shares of NIKE in a research report on Thursday, June 4th. Piper Sandler cut their price target on NIKE from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Oppenheimer reduced their price objective on NIKE to $60.00 and set an “outperform” rating for the company in a research report on Friday, June 26th. Finally, CICC Research lowered NIKE from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $69.00 to $58.00 in a report on Monday, April 6th. Thirteen equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.80.

NIKE Company 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).