Oak Thistle LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

Oak Thistle LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,899 shares of the footwear maker's stock, valued at approximately $4,247,000. NIKE accounts for 0.9% of Oak Thistle LLC's investment portfolio, making the stock its 11th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after acquiring an additional 347,178 shares during the last quarter. Capital World Investors lifted its holdings in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after acquiring an additional 620,214 shares during the last quarter. Finally, Norges Bank bought a new position in shares of NIKE in the fourth quarter worth about $1,126,288,000. Institutional investors own 64.25% of the company's stock.

NIKE Stock Up 1.1%

NYSE NKE traded up $0.85 during mid-day trading on Friday, hitting $76.27. The company's stock had a trading volume of 7,148,164 shares, compared to its average volume of 19,919,176. The company's 50 day simple moving average is $66.81 and its 200 day simple moving average is $67.32. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $112.81 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.80 and a beta of 1.25.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter last year, the firm posted $0.99 EPS. NIKE's revenue was down 11.9% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date was Monday, June 2nd. NIKE's payout ratio is currently 74.07%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays increased their target price on shares of NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Piper Sandler raised their price objective on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Telsey Advisory Group reiterated a "market perform" rating and issued a $70.00 price objective on shares of NIKE in a report on Friday, June 27th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Friday, June 27th. Finally, Citigroup raised their price objective on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.15.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

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.