CORDA Investment Management LLC. Boosts Stake in NIKE, Inc. $NKE

CORDA Investment Management LLC. increased its position in shares of NIKE, Inc. (NYSE:NKE) by 12.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 196,382 shares of the footwear maker’s stock after buying an additional 21,181 shares during the quarter. CORDA Investment Management LLC.’s holdings in NIKE were worth $10,373,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. J. Stern & Co. LLP boosted its stake in shares of NIKE by 49,010.4% during the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after buying an additional 47,956,692 shares during the period. Norges Bank acquired a new stake in shares of NIKE in the 4th quarter worth $829,956,000. Harris Associates L P acquired a new position in NIKE during the 2nd quarter worth approximately $621,525,000. Capital World Investors lifted its holdings in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares during the period. Finally, Jasper Ridge Partners L.P. grew its stake in shares of NIKE by 2,492.4% during the 4th quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock worth $311,111,000 after purchasing an additional 4,694,859 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several research analyst reports. Telsey Advisory Group set a $47.00 price target on NIKE and gave the stock a “market perform” rating in a research note on Wednesday, July 1st. Robert W. Baird restated an “outperform” rating and set a $70.00 price objective on shares of NIKE in a research report on Wednesday, July 1st. Needham & Company LLC reissued a “hold” rating on shares of NIKE in a research report on Thursday, June 4th. Sanford C. Bernstein set a $72.00 price objective on shares of NIKE and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, CICC Research lowered shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. Thirteen analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $54.80.

NIKE Stock Up 0.0%

NYSE NKE opened at $44.39 on Monday. The stock has a market cap of $65.73 billion, a PE ratio of 21.24, a P/E/G ratio of 2.56 and a beta of 1.12. The business has a 50 day moving average price of $43.71 and a two-hundred day moving average price of $52.37. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 1.76 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s dividend payout ratio is presently 78.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).