Lafayette Investments Inc. Raises Holdings in NIKE, Inc. (NYSE:NKE)

Lafayette Investments Inc. increased its position in shares of NIKE, Inc. (NYSE:NKE) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,175 shares of the footwear maker’s stock after buying an additional 2,130 shares during the period. Lafayette Investments Inc.’s holdings in NIKE were worth $1,822,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Annapolis Financial Services LLC boosted its position in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. True Wealth Design LLC grew its stake in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of NIKE during the fourth quarter valued at about $33,000. Core Wealth Advisors Inc. raised its position in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE in the 4th quarter worth approximately $36,000. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Stock Up 0.1 %

Shares of NYSE NKE opened at $83.32 on Friday. The stock has a market cap of $124.93 billion, a PE ratio of 22.34, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a 50-day moving average of $77.91 and a 200 day moving average of $89.49.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the business earned $0.66 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a report on Friday, August 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $79.00 price objective (down previously from $114.00) on shares of NIKE in a report on Friday, June 28th. Jefferies Financial Group decreased their price target on NIKE from $90.00 to $80.00 in a report on Friday, July 12th. Finally, TD Cowen dropped their price objective on shares of NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE 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.