22,307 Shares in NIKE, Inc. $NKE Bought by Cornerstone Planning LLC

Cornerstone Planning LLC bought a new stake in NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,307 shares of the footwear maker’s stock, valued at approximately $1,431,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NKE. Westerkirk Capital Inc. lifted its stake in NIKE by 52.4% during the fourth quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock worth $8,360,000 after purchasing an additional 45,100 shares during the last quarter. Mizuho Markets Cayman LP purchased a new position in NIKE in the third quarter valued at approximately $34,200,000. OMERS ADMINISTRATION Corp increased its stake in NIKE by 77.9% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker’s stock valued at $160,943,000 after purchasing an additional 1,106,499 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in NIKE during the fourth quarter worth approximately $43,188,000. Finally, Strive Asset Management LLC acquired a new stake in NIKE during the third quarter worth approximately $1,743,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NKE. JPMorgan Chase & Co. restated a “neutral” rating on shares of NIKE in a report on Monday, April 13th. Piper Sandler reiterated a “neutral” rating and set a $50.00 price target (down from $60.00) on shares of NIKE in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $54.00 to $51.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. BTIG Research dropped their price objective on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, Sanford C. Bernstein reaffirmed a “buy” rating on shares of NIKE in a report on Monday, May 11th. Fifteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Hold” and a consensus target price of $60.89.

NIKE Stock Performance

Shares of NKE opened at $45.22 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The firm has a market cap of $66.97 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The company’s 50 day simple moving average is $44.39 and its 200-day simple moving average is $54.79. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. NIKE’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.6%. NIKE’s payout ratio is currently 108.61%.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Barclays reiterated a Buy rating on NIKE, which can support sentiment by signaling that analysts still see upside in the stock. Barclays Remains a Buy on Nike (NKE)
• Positive Sentiment: NIKE outperformed the broader market in the latest trading session, suggesting traders may be positioning ahead of upcoming earnings and looking for signs that the turnaround is taking hold. Nike (NKE) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Coverage highlighted stronger traction in one major market and signs that NIKE’s recovery is gaining momentum, which could improve confidence in the company’s earnings outlook. Headed Into Earnings, Nike Stock Is Trading Lower Than It Was a Decade Ago. But Is the Turnaround Finally Working?

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 4,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were purchased at an average price of $43.34 per share, with a total value of $173,360.00. Following the completion of the acquisition, the director directly owned 41,022 shares in the company, valued at $1,777,893.48. This represents a 10.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Elliott Hill purchased 23,660 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was bought at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the transaction, the chief executive officer directly owned 265,247 shares in the company, valued at $11,211,990.69. This trade represents a 9.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 64,441 shares of company stock valued at $2,734,204 in the last quarter. Corporate insiders own 0.80% of the company’s stock.

NIKE 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).