Strs Ohio Increases Position in NIKE, Inc. $NKE

Strs Ohio grew its holdings in NIKE, Inc. (NYSE:NKE) by 5.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 322,352 shares of the footwear maker’s stock after acquiring an additional 17,863 shares during the quarter. Strs Ohio’s holdings in NIKE were worth $22,900,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE in the first quarter valued at about $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE in the second quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC raised its holdings in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after buying an additional 362 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE in the first quarter valued at about $30,000. Finally, Matrix Trust Co raised its holdings in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NKE. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the company a “hold” rating in a report on Wednesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 target price on shares of NIKE in a report on Wednesday, October 1st. KeyCorp set a $90.00 price target on shares of NIKE and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Morgan Stanley set a $72.00 price target on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Finally, Piper Sandler set a $84.00 price target on shares of NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

NIKE Trading Down 0.5%

Shares of NKE opened at $64.59 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average is $71.29 and its two-hundred day moving average is $68.22. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The firm has a market capitalization of $95.48 billion, a P/E ratio of 33.12, a PEG ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

NIKE Company 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.