Sloy Dahl & Holst LLC Has $519,000 Stake in NIKE, Inc. (NYSE:NKE)

Sloy Dahl & Holst LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 17.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,784 shares of the footwear maker’s stock after buying an additional 700 shares during the period. Sloy Dahl & Holst LLC’s holdings in NIKE were worth $519,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its stake in shares of NIKE by 139,649.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock worth $1,967,325,000 after purchasing an additional 16,801,276 shares during the period. Norges Bank bought a new position in shares of NIKE during the fourth quarter worth approximately $1,345,203,000. Newport Trust Company LLC bought a new position in shares of NIKE during the third quarter worth approximately $679,775,000. Morgan Stanley increased its stake in shares of NIKE by 26.4% during the fourth quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after purchasing an additional 6,410,744 shares during the period. Finally, Flossbach Von Storch AG increased its stake in shares of NIKE by 433.5% during the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after purchasing an additional 3,354,677 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 equities analysts have recently weighed in on NKE shares. Piper Sandler lowered their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. TD Cowen restated a “market perform” rating and set a $104.00 price objective (down previously from $129.00) on shares of NIKE in a research note on Friday, December 22nd. Jefferies Financial Group lowered their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, Morgan Stanley lowered their price objective on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

Shares of NYSE NKE traded up $0.29 during mid-day trading on Wednesday, hitting $93.39. 10,388,153 shares of the stock traded hands, compared to its average volume of 11,716,572. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The company has a market cap of $140.96 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. The firm has a 50 day simple moving average of $98.65 and a two-hundred day simple moving average of $103.48.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, equities research analysts forecast that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is presently 43.53%.

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.