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

Lafayette Investments Inc. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 90.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,097 shares of the footwear maker’s stock after purchasing an additional 21,922 shares during the quarter. Lafayette Investments Inc.’s holdings in NIKE were worth $4,075,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares during the last quarter. FORA Capital LLC purchased a new position in shares of NIKE during the first quarter valued at about $3,412,000. Cetera Advisors LLC increased its holdings in shares of NIKE by 85.5% in the first quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock worth $8,298,000 after purchasing an additional 40,704 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of NIKE in the first quarter worth about $713,000. Finally, New Mexico Educational Retirement Board boosted its stake in NIKE by 15.7% during the first quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock valued at $6,978,000 after buying an additional 10,100 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Down 0.1 %

Shares of NKE stock traded down $0.10 on Thursday, hitting $79.95. The stock had a trading volume of 1,036,420 shares, compared to its average volume of 11,585,438. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The business has a 50 day moving average price of $82.86 and a 200 day moving average price of $85.10. The company has a market cap of $120.67 billion, a PE ratio of 21.46, a P/E/G ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 EPS. Research analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.85%. NIKE’s payout ratio is 39.68%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Telsey Advisory Group lowered their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Stifel Nicolaus lowered their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

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.