CX Institutional Has $4.28 Million Position in NIKE, Inc. (NYSE:NKE)

CX Institutional reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,432 shares of the footwear maker’s stock after selling 3,724 shares during the period. CX Institutional’s holdings in NIKE were worth $4,281,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NKE. Brighton Jones LLC raised its stake 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 worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Savant Capital LLC grew its stake in shares of NIKE by 32.2% in the 4th quarter. Savant Capital LLC now owns 38,002 shares of the footwear maker’s stock valued at $2,876,000 after buying an additional 9,259 shares in the last quarter. Sapient Capital LLC increased its holdings in NIKE by 7.0% in the fourth quarter. Sapient Capital LLC now owns 14,761 shares of the footwear maker’s stock worth $1,123,000 after buying an additional 969 shares during the last quarter. Essex Financial Services Inc. raised its position in NIKE by 43.0% during the fourth quarter. Essex Financial Services Inc. now owns 6,397 shares of the footwear maker’s stock valued at $484,000 after acquiring an additional 1,925 shares in the last quarter. Finally, Sather Financial Group Inc raised its position in NIKE by 6.3% during the fourth quarter. Sather Financial Group Inc now owns 469,459 shares of the footwear maker’s stock valued at $35,524,000 after acquiring an additional 27,834 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on NKE. Barclays decreased their target price on shares of NIKE from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, May 12th. BMO Capital Markets decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Stifel Nicolaus cut their target price on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler lowered their price objective on NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $80.26.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

NIKE Stock Performance

NYSE NKE opened at $63.15 on Thursday. The company’s fifty day moving average is $59.09 and its two-hundred day moving average is $68.97. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market capitalization of $93.41 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE) last released its earnings results 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue was down 9.1% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. NIKE’s dividend payout ratio is currently 53.16%.

About NIKE

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.