NIKE, Inc. $NKE Shares Purchased by CORDA Investment Management LLC.

CORDA Investment Management LLC. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 9.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 170,535 shares of the footwear maker’s stock after purchasing an additional 14,333 shares during the quarter. CORDA Investment Management LLC.’s holdings in NIKE were worth $12,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management raised its stake in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after purchasing an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of NIKE during the 1st quarter worth approximately $25,963,000. BROOKFIELD Corp ON raised its position in shares of NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares during the period. Finally, Cadence Bank raised its position in shares of NIKE by 10.0% during the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after purchasing an additional 7,574 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a report on Friday, October 10th. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Truist Financial reissued a “buy” rating and issued a $85.00 price objective on shares of NIKE in a report on Wednesday, October 1st. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the company a “buy” rating in a research note on Thursday, September 25th. Finally, KeyCorp set a $90.00 price target on NIKE and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insiders Place Their Bets

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

NIKE Price Performance

Shares of NYSE:NKE opened at $67.46 on Monday. NIKE, Inc. has a one year low of $52.28 and a one year high of $83.95. The stock has a fifty day moving average of $73.10 and a 200-day moving average of $67.48. The company has a market capitalization of $99.72 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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

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.