CORDA Investment Management LLC. Acquires 14,781 Shares of NIKE, Inc. (NYSE:NKE)

CORDA Investment Management LLC. boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,822 shares of the footwear maker’s stock after buying an additional 14,781 shares during the period. CORDA Investment Management LLC.’s holdings in NIKE were worth $10,681,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC lifted its stake in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC lifted its stake in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of NIKE in the second quarter worth about $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of NIKE in the second quarter worth about $46,000. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $78.33 on Monday. The firm has a market cap of $117.44 billion, a PE ratio of 22.37, a P/E/G ratio of 1.87 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $82.12 and a two-hundred day simple moving average of $84.37. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. On average, equities analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Jefferies Financial Group boosted their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. TD Cowen lifted their price objective on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Guggenheim cut their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Barclays dropped their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.