Yoffe Investment Management LLC Purchases Shares of 6,248 NIKE, Inc. (NYSE:NKE)

Yoffe Investment Management LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,248 shares of the footwear maker's stock, valued at approximately $473,000.

Several other institutional investors and hedge funds also recently modified their holdings of NKE. PDT Partners LLC acquired a new position in NIKE in the 3rd quarter worth $229,000. IHT Wealth Management LLC lifted its stake in shares of NIKE by 29.4% in the third quarter. IHT Wealth Management LLC now owns 18,700 shares of the footwear maker's stock worth $1,657,000 after acquiring an additional 4,254 shares in the last quarter. Red Wave Investments LLC purchased a new position in NIKE in the third quarter valued at about $215,000. Royal London Asset Management Ltd. grew its stake in NIKE by 9.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 649,813 shares of the footwear maker's stock valued at $57,443,000 after purchasing an additional 55,266 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in NIKE during the 3rd quarter worth approximately $28,310,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

NKE has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on NIKE from $73.00 to $64.00 and set a "neutral" rating for the company in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a "buy" rating for the company in a research note on Monday, December 16th. Piper Sandler upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Truist Financial dropped their price objective on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Finally, BMO Capital Markets decreased their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note 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 company. Based on data from MarketBeat, NIKE has an average rating of "Moderate Buy" and an average target price of $87.38.

NIKE Stock Down 5.5 %

NKE stock traded down $3.12 during mid-day trading on Monday, hitting $54.13. The stock had a trading volume of 20,746,596 shares, compared to its average volume of 13,480,043. NIKE, Inc. has a 1-year low of $52.50 and a 1-year high of $98.04. The company has a fifty day moving average of $72.96 and a 200 day moving average of $76.27. 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 stock has a market capitalization of $80.06 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for 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 for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. On average, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's payout ratio is 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.