NIKE, Inc. (NYSE:NKE) Shares Sold by Trust Co. of Oklahoma

Trust Co. of Oklahoma trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 47.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,028 shares of the footwear maker’s stock after selling 8,117 shares during the period. Trust Co. of Oklahoma’s holdings in NIKE were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $42,000. Richardson Financial Services Inc. acquired a new stake in shares of NIKE during the 4th quarter worth about $119,000. SageView Advisory Group LLC boosted its stake in shares of NIKE by 192.9% during the 4th quarter. SageView Advisory Group LLC now owns 9,496 shares of the footwear maker’s stock worth $989,000 after purchasing an additional 6,254 shares during the last quarter. Leo Wealth LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $423,000. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $2,137,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NIKE stock traded up $0.76 during midday trading on Tuesday, hitting $82.36. The company’s stock had a trading volume of 6,005,792 shares, compared to its average volume of 11,710,345. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average price is $81.86 and its 200-day moving average price is $85.49. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market capitalization of $124.31 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the business earned $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

NKE has been the topic of several recent analyst reports. Piper Sandler reiterated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Sanford C. Bernstein cut their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. TD Cowen increased their price objective on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

About NIKE

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.