NIKE, Inc. (NYSE:NKE) Shares Purchased by Cornerstone Advisory LLC

Cornerstone Advisory LLC raised its position in NIKE, Inc. (NYSE:NKE) by 28.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,712 shares of the footwear maker’s stock after purchasing an additional 825 shares during the period. Cornerstone Advisory LLC’s holdings in NIKE were worth $271,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NKE. Heck Capital Advisors LLC acquired a new stake in NIKE in the 4th quarter valued at about $28,000. Caitlin John LLC grew its position in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of NIKE during the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA raised its position in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in NIKE in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Trading Up 2.2%

Shares of NKE stock opened at $61.30 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The firm’s 50 day moving average price is $60.15 and its two-hundred day moving average price is $70.31. The stock has a market cap of $90.67 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE) last posted 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 for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

Analysts Set New Price Targets

Several equities analysts have weighed in on NKE shares. Citigroup dropped their price target on NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Truist Financial cut their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Wells Fargo & Company upped their target price on shares of NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Needham & Company LLC lowered their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 17th. Finally, Guggenheim reissued a “buy” rating and set a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.26.

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.