Yoffe Investment Management LLC Purchases New Holdings in NIKE, Inc. (NYSE:NKE)

Yoffe Investment Management LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, Holdings Channel reports. The fund bought 6,248 shares of the footwear maker’s stock, valued at approximately $473,000.

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

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NYSE:NKE opened at $55.49 on Friday. The stock has a fifty day moving average of $73.28 and a 200-day moving average of $76.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a one year low of $55.40 and a one year high of $98.04. The company has a market capitalization of $82.07 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned $0.98 earnings per share. NIKE’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s payout ratio is presently 53.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Cfra Research raised shares of NIKE to a “moderate buy” rating in a report on Friday, March 21st. Wells Fargo & Company cut their price objective on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Bank of America reduced their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. reduced their target price on NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.38.

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.