State Board of Administration of Florida Retirement System trimmed its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 1,364,583 shares of the footwear maker’s stock after selling 18,870 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in NIKE were worth $167,352,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in NKE. Stonebridge Capital Advisors LLC grew its position in NIKE by 1.2% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 105,276 shares of the footwear maker’s stock valued at $12,911,000 after acquiring an additional 1,227 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in NIKE during the 1st quarter worth approximately $403,000. Sound View Wealth Advisors Group LLC lifted its holdings in NIKE by 60.0% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 10,274 shares of the footwear maker’s stock worth $1,260,000 after buying an additional 3,852 shares in the last quarter. Salvus Wealth Management LLC purchased a new position in NIKE in the 1st quarter valued at approximately $215,000. Finally, Park Avenue Securities LLC grew its stake in NIKE by 13.3% during the 1st quarter. Park Avenue Securities LLC now owns 29,927 shares of the footwear maker’s stock worth $3,670,000 after purchasing an additional 3,511 shares in the last quarter. 63.42% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
NKE has been the topic of a number of analyst reports. Wedbush raised their price target on NIKE from $129.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, June 30th. Morgan Stanley reduced their price target on shares of NIKE from $130.00 to $127.00 and set an “overweight” rating for the company in a research report on Sunday, July 2nd. TheStreet downgraded NIKE from a “b-” rating to a “c+” rating in a research note on Tuesday, September 5th. Citigroup lowered their target price on shares of NIKE from $125.00 to $109.00 in a research report on Tuesday, June 13th. Finally, Erste Group Bank reiterated a “hold” rating on shares of NIKE in a research report on Friday, September 8th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.28.
NIKE Price Performance
Shares of NYSE NKE opened at $96.13 on Thursday. The company has a current ratio of 2.72, a quick ratio of 1.81 and a debt-to-equity ratio of 0.64. The stock has a market cap of $147.08 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 1.73 and a beta of 1.12. The company’s 50-day moving average price is $105.24 and its 200 day moving average price is $113.14. NIKE, Inc. has a 52 week low of $82.22 and a 52 week high of $131.31.
NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.58 billion. NIKE had a net margin of 9.90% and a return on equity of 34.01%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.
NIKE Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.36 dividend on an annualized basis and a yield of 1.41%. NIKE’s dividend payout ratio (DPR) is currently 42.11%.
Insider Buying and Selling
In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total transaction of $11,943,800.00. Following the transaction, the chairman now owns 1,334,781 shares of the company’s stock, valued at approximately $144,930,520.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $108.58, for a total transaction of $11,943,800.00. Following the completion of the transaction, the chairman now owns 1,334,781 shares of the company’s stock, valued at $144,930,520.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 40,000 shares of NIKE stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $108.59, for a total transaction of $4,343,600.00. Following the completion of the transaction, the executive vice president now owns 44,736 shares in the company, valued at approximately $4,857,882.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,251 shares of company stock worth $17,063,257. 0.50% of the stock is owned by insiders.
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.
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