Silver Oak Advisory Group Inc. Has $231,000 Stake in NIKE, Inc. (NYSE:NKE)

Silver Oak Advisory Group Inc. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 23.0% during the second quarter, Holdings Channel.com reports. The fund owned 3,068 shares of the footwear maker’s stock after selling 915 shares during the period. Silver Oak Advisory Group Inc.’s holdings in NIKE were worth $231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Vanguard Group Inc. raised its position in NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after purchasing an additional 501,792 shares in the last quarter. Capital International Investors raised its holdings in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the last quarter. Norges Bank acquired a new stake in NIKE in the fourth quarter valued at about $1,315,097,000. Finally, Fisher Asset Management LLC grew its position in NIKE by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock valued at $1,072,676,000 after acquiring an additional 211,360 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE NKE opened at $83.32 on Tuesday. The firm has a market capitalization of $125.76 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.19 and a beta of 1.01. The firm’s 50-day moving average price is $77.63 and its 200-day moving average price is $89.21. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. Equities research analysts anticipate that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s payout ratio is 39.68%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NKE. Wedbush decreased their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Truist Financial dropped their price target on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Bank of America reduced their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Wells Fargo & Company cut their price target on NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Finally, TD Cowen lowered their price objective on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $95.59.

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.