LGT Financial Advisors LLC Takes Position in NIKE, Inc. (NYSE:NKE)

LGT Financial Advisors LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, Holdings Channel reports. The fund purchased 1,250 shares of the footwear maker’s stock, valued at approximately $95,000.

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

Analyst Ratings Changes

Several equities research analysts recently commented on NKE shares. Cfra Research raised shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Truist Financial decreased their price target 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. The Goldman Sachs Group reduced their target price on shares of NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lowered their price target on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Finally, Needham & Company LLC decreased their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 17th. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.15.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Stock Down 1.9 %

NKE stock opened at $56.46 on Thursday. The stock has a market capitalization of $83.51 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.52 and a beta of 1.15. The business has a fifty day moving average price of $65.57 and a 200-day moving average price of $72.49. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. NIKE’s dividend payout ratio is 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.