NIKE, Inc. (NYSE:NKE) Shares Purchased by Bank OZK

Bank OZK increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,833 shares of the footwear maker’s stock after purchasing an additional 370 shares during the period. Bank OZK’s holdings in NIKE were worth $1,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Alliance Wealth Advisors LLC UT raised its holdings in NIKE by 1.2% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 18,724 shares of the footwear maker’s stock valued at $2,033,000 after acquiring an additional 222 shares during the last quarter. Private Wealth Partners LLC raised its holdings in NIKE by 2.1% in the 4th quarter. Private Wealth Partners LLC now owns 5,963 shares of the footwear maker’s stock valued at $647,000 after acquiring an additional 123 shares during the last quarter. Valmark Advisers Inc. raised its holdings in NIKE by 11.7% in the 4th quarter. Valmark Advisers Inc. now owns 11,394 shares of the footwear maker’s stock valued at $1,237,000 after acquiring an additional 1,191 shares during the last quarter. Addison Advisors LLC raised its holdings in NIKE by 15.3% in the 4th quarter. Addison Advisors LLC now owns 2,565 shares of the footwear maker’s stock valued at $278,000 after acquiring an additional 341 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in NIKE in the 4th quarter valued at about $756,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NIKE stock traded up $0.18 during mid-day trading on Friday, hitting $94.12. 6,115,744 shares of the company were exchanged, compared to its average volume of 9,124,711. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The business’s 50 day simple moving average is $96.96 and its two-hundred day simple moving average is $103.30. The company has a market capitalization of $142.06 billion, a P/E ratio of 27.68, a PEG ratio of 1.81 and a beta of 1.08. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. Analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s payout ratio is currently 43.53%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NKE shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price objective (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Morgan Stanley cut their price target on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Jefferies Financial Group cut their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Piper Sandler cut their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Finally, UBS Group decreased their price objective on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

About NIKE

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.