NIKE, Inc. $NKE Shares Purchased by CORDA Investment Management LLC.

Key Points

• CORDA Investment Management LLC increased its position in NIKE, Inc. by 9.2%, now holding 170,535 shares valued at approximately $12.1 million.
• Analysts are optimistic about NIKE, with a consensus rating of "Moderate Buy" and an average price target of $82.21.
• Chairman Mark G. Parker sold 86,078 shares for over $6.5 million, reducing his stake by 10.36%.

CORDA Investment Management LLC. boosted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,535 shares of the footwear maker's stock after purchasing an additional 14,333 shares during the quarter. CORDA Investment Management LLC.'s holdings in NIKE were worth $12,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in NKE. Stone House Investment Management LLC acquired a new position in NIKE in the first quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new stake in NIKE during the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC lifted its stake in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock valued at $28,000 after purchasing an additional 362 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE during the 1st quarter worth about $30,000. Finally, Matrix Trust Co grew its holdings in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after purchasing an additional 153 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley set a $72.00 price target on shares of NIKE and gave the company a "positive" rating in a report on Wednesday, October 1st. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Bank of America upped their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Zacks Research raised NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the stock a "buy" rating in a research note on Thursday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.21.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman 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 document filed with the SEC, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value 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 $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company's stock.

NIKE Price Performance

Shares of NYSE NKE opened at $67.46 on Monday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $83.95. The business has a 50-day moving average of $73.10 and a 200-day moving average of $67.48. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company has a market capitalization of $99.72 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.48 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company's revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate 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 was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. NIKE's dividend payout ratio is currently 82.05%.

NIKE 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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