CX Institutional Has $4.28 Million Holdings in NIKE, Inc. (NYSE:NKE)

CX Institutional decreased its stake in NIKE, Inc. (NYSE:NKE) by 5.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 67,432 shares of the footwear maker’s stock after selling 3,724 shares during the period. CX Institutional’s holdings in NIKE were worth $4,281,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Heck Capital Advisors LLC bought a new position in shares of NIKE during the fourth quarter valued at $28,000. Roxbury Financial LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $30,000. LFA Lugano Financial Advisors SA lifted its holdings in 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 during the last quarter. Hopwood Financial Services Inc. bought a new position in NIKE during the 4th quarter valued at about $30,000. Finally, EnRich Financial Partners LLC boosted its position in NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after buying an additional 273 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on NKE shares. Robert W. Baird dropped their price objective on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Piper Sandler decreased their price target on NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group dropped their price target on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Cfra Research raised NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Finally, Bank of America decreased their target price on NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Seventeen equities research 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 stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.26.

NIKE Stock Performance

NKE stock opened at $63.15 on Thursday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. 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 company has a market cap of $93.41 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The business’s fifty day moving average is $59.09 and its 200-day moving average is $68.97.

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

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend 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 shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Company 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.