Oak Asset Management LLC Grows Position in NIKE, Inc. (NYSE:NKE)

Oak Asset Management LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,336 shares of the footwear maker’s stock after buying an additional 4,130 shares during the quarter. Oak Asset Management LLC’s holdings in NIKE were worth $1,842,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NKE. Range Financial Group LLC purchased a new position in shares of NIKE during the 4th quarter valued at $642,000. Cacti Asset Management LLC bought a new position in NIKE during the fourth quarter valued at approximately $9,987,000. ING Groep NV bought a new stake in NIKE in the 3rd quarter worth approximately $29,628,000. Confluence Investment Management LLC raised its holdings in shares of NIKE by 6.3% during the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock worth $18,621,000 after acquiring an additional 14,592 shares in the last quarter. Finally, Everence Capital Management Inc. grew its holdings in shares of NIKE by 128.1% in the fourth quarter. Everence Capital Management Inc. now owns 24,680 shares of the footwear maker’s stock valued at $1,868,000 after purchasing an additional 13,860 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. UBS Group reaffirmed a “neutral” rating and set a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Sanford C. Bernstein lowered their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Truist Financial reduced their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Robert W. Baird lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. cut their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Up 1.3 %

Shares of NIKE stock opened at $72.16 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market cap of $106.73 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.89 and a beta of 1.02. The firm’s 50-day moving average is $76.19 and its two-hundred day moving average is $78.09. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last released 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 firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is presently 49.38%.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company 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.