New York State Common Retirement Fund Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

New York State Common Retirement Fund lessened its holdings in NIKE, Inc. (NYSE:NKE) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,721,905 shares of the footwear maker’s stock after selling 28,935 shares during the period. New York State Common Retirement Fund’s holdings in NIKE were worth $130,297,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Range Financial Group LLC purchased a new position in shares of NIKE in the 4th quarter valued at $642,000. Cacti Asset Management LLC purchased a new stake in NIKE during the 4th quarter worth $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in NIKE during the 4th quarter worth $5,384,000. Klein Pavlis & Peasley Financial Inc. increased its stake in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after buying an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC increased its stake in NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after buying an additional 8,504 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of NIKE in a research note on Friday, February 7th. Guggenheim reaffirmed a “buy” rating and set a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Stifel Nicolaus dropped their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Robert W. Baird decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Truist Financial decreased their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Trading Up 6.2 %

NIKE stock opened at $77.54 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $74.38 and a two-hundred day moving average price of $78.07. The firm has a market capitalization of $114.70 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.38 and a beta of 1.01. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $106.62.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

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.