Lafayette Investments Inc. Has $2.30 Million Position in NIKE, Inc. (NYSE:NKE)

Lafayette Investments Inc. raised its stake in NIKE, Inc. (NYSE:NKE) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,147 shares of the footwear maker’s stock after purchasing an additional 1,763 shares during the period. Lafayette Investments Inc.’s holdings in NIKE were worth $2,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Freedom LLC acquired a new position in shares of NIKE in the fourth quarter valued at $29,000. Iron Horse Wealth Management LLC grew its stake in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Impact Partnership Wealth LLC grew its stake in shares of NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 181 shares in the last quarter. Planned Solutions Inc. acquired a new position in shares of NIKE in the fourth quarter valued at about $29,000. Finally, Worth Asset Management LLC acquired a new position in shares of NIKE in the first quarter valued at about $32,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NKE shares. Jefferies Financial Group decreased their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Robert W. Baird decreased their price target on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Oppenheimer downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target on the stock. in a research note on Friday, February 16th. Citigroup cut their price objective on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Finally, TheStreet cut shares of NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Trading Up 0.3 %

NYSE NKE traded up $0.30 during trading hours on Friday, reaching $96.04. The company’s stock had a trading volume of 3,532,427 shares, compared to its average volume of 9,495,618. The firm has a fifty day simple moving average of $98.31 and a 200-day simple moving average of $103.37. The stock has a market cap of $144.96 billion, a P/E ratio of 28.21, a P/E/G ratio of 1.83 and a beta of 1.08. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Equities analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is presently 43.53%.

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.