Oak Asset Management LLC Has $1.94 Million Position in NIKE, Inc. (NYSE:NKE)

Oak Asset Management LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 0.7% during the first quarter, Holdings Channel reports. The firm owned 20,686 shares of the footwear maker’s stock after acquiring an additional 150 shares during the quarter. Oak Asset Management LLC’s holdings in NIKE were worth $1,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Piscataqua Savings Bank lifted its stake in shares of NIKE by 2.1% in the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after purchasing an additional 100 shares during the period. Physicians Financial Services Inc. raised its stake in NIKE by 0.6% during the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after buying an additional 100 shares during the period. ZWJ Investment Counsel Inc. raised its stake in NIKE by 4.0% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after buying an additional 100 shares during the period. Kornitzer Capital Management Inc. KS raised its stake in NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after buying an additional 100 shares during the period. Finally, Claro Advisors LLC raised its stake in NIKE by 0.8% during the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after buying an additional 101 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $83.00 price target (down from $116.00) on shares of NIKE in a research note on Friday. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 price target (down from $114.00) on shares of NIKE in a research note on Friday. Telsey Advisory Group decreased their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday. Jefferies Financial Group decreased their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Finally, KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday. Two research 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. According to MarketBeat.com, NIKE presently has an average rating of “Hold” and a consensus price target of $98.96.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $75.37 on Monday. NIKE, Inc. has a 12 month low of $74.55 and a 12 month high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The business’s 50 day simple moving average is $93.28 and its 200 day simple moving average is $98.85. The company has a market cap of $113.76 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 3.9 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.96%. NIKE’s payout ratio is 39.68%.

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.