Trust Co. of Oklahoma Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Trust Co. of Oklahoma lessened its holdings in NIKE, Inc. (NYSE:NKE) by 4.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,953 shares of the footwear maker’s stock after selling 878 shares during the period. Trust Co. of Oklahoma’s holdings in NIKE were worth $1,781,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of NKE. Norges Bank purchased a new stake in NIKE during the fourth quarter valued at approximately $1,315,097,000. Price T Rowe Associates Inc. MD lifted its position in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the last quarter. Capital International Investors lifted its position in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in NIKE by 13,094.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock valued at $169,722,000 after acquiring an additional 1,551,405 shares during the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd lifted its position in NIKE by 25.5% during the fourth quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 4,714,494 shares of the footwear maker’s stock valued at $511,853,000 after acquiring an additional 957,612 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE stock traded down $0.77 on Wednesday, reaching $75.27. 15,952,008 shares of the company were exchanged, compared to its average volume of 10,740,556. The company has a market cap of $113.61 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 1.43 and a beta of 1.01. The business has a 50-day moving average price of $92.58 and a 200 day moving average price of $98.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a 1 year low of $74.29 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 3.47 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.97%. NIKE’s payout ratio is presently 39.68%.

Analyst Ratings Changes

A number of research analysts have issued reports on NKE shares. Robert W. Baird decreased their price target on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Piper Sandler decreased their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Finally, TD Cowen cut their price objective on shares of NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, NIKE has an average rating of “Hold” and an average target price of $97.19.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by insiders.

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.