Yoffe Investment Management LLC Acquires New Stake in NIKE, Inc. (NYSE:NKE)

Yoffe Investment Management LLC purchased a new position in NIKE, Inc. (NYSE:NKE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,360 shares of the footwear maker's stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Klein Pavlis & Peasley Financial Inc. increased its stake in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker's stock worth $1,955,000 after buying an additional 6,124 shares during the period. Renaissance Technologies LLC grew its holdings in NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after acquiring an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC increased its position in shares of NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after acquiring an additional 90,000 shares during the period. Stonegate Investment Group LLC raised its stake in shares of NIKE by 18.5% during the fourth quarter. Stonegate Investment Group LLC now owns 670,616 shares of the footwear maker's stock valued at $50,746,000 after acquiring an additional 104,786 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in shares of NIKE during the fourth quarter valued at about $623,000. Institutional investors own 64.25% of the company's stock.

NIKE Stock Down 1.5%

NKE stock traded down $0.92 during trading on Friday, hitting $60.52. 18,129,878 shares of the stock traded hands, compared to its average volume of 15,008,233. The stock has a market cap of $89.52 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The firm's 50 day moving average is $59.20 and its two-hundred day moving average is $69.78.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business's revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced 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 is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.64%. NIKE's dividend payout ratio is 53.16%.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Guggenheim restated a "buy" rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Bank of America cut their price objective on NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Cfra Research raised NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Finally, Piper Sandler cut their price target on shares of NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.26.

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.