Lathrop Investment Management Corp Sells 227 Shares of NIKE, Inc. (NYSE:NKE)

Lathrop Investment Management Corp lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,051 shares of the footwear maker’s stock after selling 227 shares during the quarter. NIKE accounts for about 2.3% of Lathrop Investment Management Corp’s portfolio, making the stock its 21st largest position. Lathrop Investment Management Corp’s holdings in NIKE were worth $11,297,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Excalibur Management Corp boosted its position in NIKE by 1.9% during the 3rd quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after purchasing an additional 98 shares during the period. Baxter Bros Inc. lifted its holdings in NIKE by 2.0% in the 3rd quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock worth $482,000 after buying an additional 100 shares in the last quarter. First Pacific Financial lifted its holdings in NIKE by 1.3% in the 3rd quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock worth $774,000 after buying an additional 100 shares in the last quarter. Jeppson Wealth Management LLC lifted its holdings in NIKE by 4.5% in the 3rd quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock worth $221,000 after buying an additional 100 shares in the last quarter. Finally, Cairn Investment Group Inc. lifted its holdings in NIKE by 4.2% in the 3rd quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock worth $239,000 after buying an additional 100 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NKE. Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Citigroup cut their target price on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Sanford C. Bernstein cut their target price on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Truist Financial restated a “hold” rating and issued a $111.00 target price on shares of NIKE in a research note on Tuesday, March 19th. Finally, Oppenheimer lowered shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price on the stock. in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Price Performance

Shares of NIKE stock traded up $0.18 on Friday, hitting $94.12. The company had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. The business has a 50-day simple moving average of $96.96 and a 200-day simple moving average of $103.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a market cap of $142.06 billion, a PE ratio of 27.68, a PEG ratio of 1.81 and a beta of 1.08. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Research analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is presently 43.53%.

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.