Sterling Investment Management LLC Takes $4.05 Million Position in NIKE, Inc. (NYSE:NKE)

Sterling Investment Management LLC bought a new position in NIKE, Inc. (NYSE:NKE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 63,860 shares of the footwear maker's stock, valued at approximately $4,054,000. NIKE accounts for 2.9% of Sterling Investment Management LLC's investment portfolio, making the stock its 9th largest holding.

A number of other large investors have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new stake in NIKE in the 4th quarter valued at $28,000. Roxbury Financial LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $30,000. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in NIKE during the fourth quarter worth about $30,000. Finally, EnRich Financial Partners LLC boosted its position in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 273 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

NKE has been the topic of several recent analyst reports. Royal Bank of Canada lowered their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 20th. Truist Financial decreased their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Needham & Company LLC dropped their price target on shares of NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Finally, Williams Trading dropped their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.26.

NIKE Stock Performance

Shares of NKE traded down $2.64 during mid-day trading on Friday, hitting $60.16. 10,215,475 shares of the company's stock were exchanged, compared to its average volume of 15,122,477. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The stock's 50-day simple moving average is $59.23 and its 200-day simple moving average is $68.85. The firm has a market cap of $88.98 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during 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 quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. On average, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. NIKE's payout ratio is 53.16%.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

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.