Curat Global LLC Makes New $119,000 Investment in NIKE, Inc. (NYSE:NKE)

Curat Global LLC bought a new stake in NIKE, Inc. (NYSE:NKE) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,875 shares of the footwear maker’s stock, valued at approximately $119,000.

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

NIKE Stock Up 0.2%

Shares of NYSE:NKE opened at $62.82 on Friday. The business’s 50 day simple moving average is $58.86 and its two-hundred day simple moving average is $69.22. The firm has a market cap of $92.92 billion, a P/E ratio of 19.39, a PEG ratio of 2.52 and a beta of 1.21. 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 52-week low of $52.28 and a 52-week high of $98.04.

NIKE (NYSE:NKE) last posted its earnings results 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. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NKE shares. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a report on Friday, May 23rd. Needham & Company LLC dropped their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Truist Financial dropped their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Cfra Research raised NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.26.

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.