NIKE, Inc. (NYSE:NKE) Position Lessened by Trust Co. of Oklahoma

Trust Co. of Oklahoma lowered its stake in NIKE, Inc. (NYSE:NKE) by 37.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,610 shares of the footwear maker’s stock after selling 3,418 shares during the quarter. Trust Co. of Oklahoma’s holdings in NIKE were worth $425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Public Sector Pension Investment Board lifted its position in shares of NIKE by 71.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock valued at $3,505,000 after acquiring an additional 19,390 shares during the last quarter. NBW Capital LLC raised its holdings in NIKE by 33.8% during the 2nd quarter. NBW Capital LLC now owns 63,614 shares of the footwear maker’s stock worth $4,795,000 after buying an additional 16,075 shares during the period. EDENTREE ASSET MANAGEMENT Ltd lifted its stake in NIKE by 7.6% during the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 132,074 shares of the footwear maker’s stock valued at $9,953,000 after buying an additional 9,350 shares in the last quarter. DoubleLine ETF Adviser LP acquired a new position in shares of NIKE in the second quarter worth about $2,454,000. Finally, Delta Investment Management LLC increased its position in shares of NIKE by 179.5% in the second quarter. Delta Investment Management LLC now owns 8,233 shares of the footwear maker’s stock worth $621,000 after acquiring an additional 5,287 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NYSE NKE opened at $74.07 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market cap of $109.56 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 2.33 and a beta of 1.02. The business has a 50 day simple moving average of $75.54 and a 200 day simple moving average of $77.88. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. Analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 49.38%.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NKE. Royal Bank of Canada lowered their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company decreased their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Truist Financial cut their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. TD Cowen cut their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Finally, Guggenheim cut their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.96.

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.