Troy Asset Management Ltd Increases Stake in NIKE, Inc. $NKE

Troy Asset Management Ltd boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 21.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 542,792 shares of the footwear maker’s stock after purchasing an additional 95,943 shares during the quarter. NIKE comprises about 0.9% of Troy Asset Management Ltd’s holdings, making the stock its 17th biggest holding. Troy Asset Management Ltd’s holdings in NIKE were worth $34,581,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mizuho Markets Cayman LP bought a new position in NIKE during the 3rd quarter valued at about $34,200,000. PFA Pension Forsikringsaktieselskab bought a new position in NIKE during the 4th quarter valued at about $43,188,000. Strive Asset Management LLC bought a new position in NIKE during the 3rd quarter valued at about $1,743,000. Nicholas Company Inc. lifted its stake in NIKE by 33.3% during the 4th quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock valued at $7,878,000 after acquiring an additional 30,890 shares during the period. Finally, Park National Corp OH lifted its stake in NIKE by 81.5% during the 4th quarter. Park National Corp OH now owns 431,055 shares of the footwear maker’s stock valued at $27,463,000 after acquiring an additional 193,514 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 0.1%

NIKE stock opened at $44.70 on Monday. The firm has a 50 day moving average of $46.59 and a 200 day moving average of $57.28. The firm has a market capitalization of $66.20 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 2.37 and a beta of 1.12. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. As a group, research analysts predict that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is currently 108.61%.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 4,000 shares of NIKE stock in a transaction that occurred on Thursday, April 9th. The stock was bought at an average cost of $43.34 per share, with a total value of $173,360.00. Following the acquisition, the director owned 41,022 shares of the company’s stock, valued at $1,777,893.48. The trade was a 10.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan bought 11,781 shares of NIKE stock in a transaction that occurred on Tuesday, April 7th. The stock was purchased at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the acquisition, the director directly owned 55,074 shares in the company, valued at $2,337,340.56. This represents a 27.21% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by insiders.

Analyst Ratings Changes

NKE has been the topic of several research analyst reports. Wells Fargo & Company set a $45.00 target price on shares of NIKE and gave the company an “equal weight” rating in a research note on Friday, May 8th. Williams Trading lowered their price objective on shares of NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. DZ Bank reiterated a “buy” rating on shares of NIKE in a research note on Tuesday, April 21st. BTIG Research lowered their price objective on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Finally, Truist Financial lowered their price objective on shares of NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Hold” and an average price target of $62.04.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).