Lafayette Investments Inc. Cuts Stock Holdings in NIKE, Inc. $NKE

Lafayette Investments Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,128 shares of the footwear maker’s stock after selling 265 shares during the quarter. Lafayette Investments Inc.’s holdings in NIKE were worth $3,206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Stone House Investment Management LLC purchased a new position in NIKE in the first quarter worth $25,000. Mascoma Wealth Management LLC acquired a new position in shares of NIKE during the 2nd quarter worth $26,000. Halbert Hargrove Global Advisors LLC grew its stake in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank purchased a new position in shares of NIKE in the 1st quarter valued at about $30,000. Finally, Matrix Trust Co lifted its stake in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a report on Friday, October 10th. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the company a “hold” rating in a research note on Wednesday, October 1st. Piper Sandler set a $84.00 target price on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Barclays set a $70.00 target price on NIKE and gave the company a “positive” rating in a report on Wednesday, October 1st. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research report on Monday, October 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.21.

NIKE Stock Performance

Shares of NYSE NKE opened at $67.71 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company has a market cap of $100.09 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. The company has a 50-day simple moving average of $72.97 and a 200-day simple moving average of $67.56. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $83.09.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the previous year, the company earned $0.70 EPS. NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

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.