Cypress Asset Management Inc. TX Makes New $309,000 Investment in NIKE, Inc. (NYSE:NKE)

Cypress Asset Management Inc. TX purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,079 shares of the footwear maker’s stock, valued at approximately $309,000.

Several other hedge funds have also recently added to or reduced their stakes in NKE. JNBA Financial Advisors grew its holdings in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after purchasing an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after buying an additional 136 shares during the last quarter. Elgethun Capital Management boosted its position in NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after buying an additional 149 shares during the period. Game Plan Financial Advisors LLC boosted its position in NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after buying an additional 150 shares during the period. Finally, AlTi Global Inc. grew its holdings in NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock worth $2,813,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NKE shares. Bank of America lowered their price objective on shares of NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Robert W. Baird reduced their price target on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Morgan Stanley dropped their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Telsey Advisory Group cut their price objective on NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 6th. Finally, BMO Capital Markets reduced their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.26.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition 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 owned by insiders.

NIKE Stock Performance

Shares of NKE opened at $60.02 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. The stock has a market cap of $88.78 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.52 and a beta of 1.23. The business’s 50 day moving average price is $59.88 and its 200-day moving average price is $70.15. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared 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 2.67%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio is presently 53.16%.

About NIKE

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.