CoreFirst Bank & Trust Invests $509,000 in NIKE, Inc. (NYSE:NKE)

CoreFirst Bank & Trust bought a new stake in NIKE, Inc. (NYSE:NKE) during the 4th quarter, HoldingsChannel reports. The fund bought 6,723 shares of the footwear maker’s stock, valued at approximately $509,000.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the fourth quarter valued at $28,000. Caitlin John LLC grew its position in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in NIKE during the 3rd quarter valued at about $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE during the 4th quarter worth about $30,000. Finally, LFA Lugano Financial Advisors SA lifted its stake in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America lowered their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Morgan Stanley decreased their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Finally, UBS Group cut their price target on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Friday. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Trading Down 0.7 %

NIKE stock opened at $67.45 on Tuesday. NIKE, Inc. has a 12 month low of $65.17 and a 12 month high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $99.76 billion, a P/E ratio of 20.82, a P/E/G ratio of 2.52 and a beta of 1.02. The company’s fifty day simple moving average is $74.61 and its 200-day simple moving average is $77.31.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is presently 53.16%.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.