Landscape Capital Management L.L.C. Makes New $1.90 Million Investment in NIKE, Inc. (NYSE:NKE)

Landscape Capital Management L.L.C. purchased a new position in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 25,149 shares of the footwear maker’s stock, valued at approximately $1,903,000.

Other institutional investors also recently bought and sold shares of the company. IHT Wealth Management LLC lifted its stake in NIKE by 29.4% in the third quarter. IHT Wealth Management LLC now owns 18,700 shares of the footwear maker’s stock valued at $1,657,000 after buying an additional 4,254 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in NIKE by 9.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 649,813 shares of the footwear maker’s stock valued at $57,443,000 after acquiring an additional 55,266 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of NIKE by 1.6% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 77,923 shares of the footwear maker’s stock worth $6,888,000 after acquiring an additional 1,241 shares during the last quarter. Two Sigma Advisers LP boosted its position in NIKE by 8.8% during the third quarter. Two Sigma Advisers LP now owns 5,528,800 shares of the footwear maker’s stock worth $488,746,000 after acquiring an additional 446,200 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in NIKE in the 3rd quarter valued at about $5,594,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 2.9 %

Shares of NYSE NKE opened at $57.17 on Friday. The company’s 50 day moving average price is $72.96 and its 200-day moving average price is $76.33. NIKE, Inc. has a 52-week low of $52.50 and a 52-week high of $98.04. The company has a market capitalization of $84.57 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last announced its quarterly 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The company’s quarterly revenue was down 9.1% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.80%. NIKE’s payout ratio is currently 53.16%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research report on Monday, March 17th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Needham & Company LLC lowered their price target on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. JPMorgan Chase & Co. cut their price objective on NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, March 21st. Finally, Evercore ISI dropped their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Fifteen 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

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.