Lancaster Investment Management Acquires Shares of 349,379 NIKE, Inc. $NKE

Key Points

• Lancaster Investment Management has acquired 349,379 shares of NIKE, Inc., valued at approximately $24.8 million, making NIKE the fourth-largest holding in its portfolio.
• NIKE recently reported quarterly earnings with an EPS of $0.49, exceeding analysts' expectations, and generated revenues of $11.72 billion, showing a 1.0% increase from the previous year.
• The company announced a quarterly dividend of $0.40 per share, representing a 2.3% yield, with a current payout ratio of 82.05%.

Lancaster Investment Management acquired a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 349,379 shares of the footwear maker's stock, valued at approximately $24,820,000. NIKE accounts for 7.9% of Lancaster Investment Management's holdings, making the stock its 4th biggest holding.

Other hedge funds also recently modified their holdings of the company. Spire Wealth Management increased its stake in shares of NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after purchasing an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after purchasing an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of NIKE during the 1st quarter worth $25,963,000. BROOKFIELD Corp ON increased its stake in shares of NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after purchasing an additional 175,000 shares during the last quarter. Finally, Cadence Bank increased its stake in shares of NIKE by 10.0% during the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker's stock worth $5,269,000 after purchasing an additional 7,574 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Price Performance

NYSE:NKE opened at $68.45 on Thursday. The company has a market capitalization of $101.18 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 2.49 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The company has a 50-day moving average of $73.38 and a 200-day moving average of $67.34. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's dividend payout ratio is currently 82.05%.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. Needham & Company LLC restated a "buy" rating and set a $78.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Piper Sandler set a $84.00 target price on shares of NIKE and gave the company an "overweight" rating in a research note on Wednesday, October 1st. Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, September 10th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $75.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Four analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $82.21.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Treasure Heinle sold 4,300 shares of the business's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

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.

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