Maryland State Retirement & Pension System reduced its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 90,847 shares of the footwear maker’s stock after selling 4,396 shares during the quarter. Maryland State Retirement & Pension System’s holdings in NIKE were worth $10,027,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in shares of NIKE by 26.4% in the 4th 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 in the last quarter. Geode Capital Management LLC increased its position in shares of NIKE by 0.5% during the first quarter. Geode Capital Management LLC now owns 22,478,963 shares of the footwear maker’s stock worth $2,750,643,000 after acquiring an additional 116,877 shares in the last quarter. FMR LLC raised its holdings in shares of NIKE by 11.8% in the 1st quarter. FMR LLC now owns 19,087,757 shares of the footwear maker’s stock worth $2,340,922,000 after acquiring an additional 2,011,891 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in NIKE by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,334,239 shares of the footwear maker’s stock valued at $2,028,279,000 after acquiring an additional 1,254,209 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in NIKE by 139,649.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after purchasing an additional 16,801,276 shares during the last quarter. Institutional investors and hedge funds own 63.42% of the company’s stock.
Analyst Ratings Changes
NKE has been the topic of a number of recent research reports. Barclays dropped their target price on NIKE from $127.00 to $124.00 in a report on Friday, June 30th. Raymond James lowered their target price on shares of NIKE from $135.00 to $128.00 and set an “outperform” rating for the company in a report on Friday, June 30th. Morgan Stanley reduced their price objective 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. Royal Bank of Canada dropped their target price on shares of NIKE from $138.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, June 30th. Finally, Bank of America reduced their target price on NIKE from $135.00 to $125.00 in a report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.28.
Insider Activity at NIKE
In other NIKE news, EVP Monique S. Matheson sold 40,000 shares of NIKE stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total transaction of $4,343,600.00. Following the completion of the sale, the executive vice president now owns 44,736 shares of the company’s stock, valued at $4,857,882.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total value of $11,943,800.00. Following the transaction, the chairman now owns 1,334,781 shares in the company, valued at $144,930,520.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 40,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $108.59, for a total value of $4,343,600.00. Following the sale, the executive vice president now owns 44,736 shares of the company’s stock, valued at $4,857,882.24. The disclosure for this sale can be found here. Insiders have sold a total of 157,251 shares of company stock valued at $17,063,257 over the last 90 days. 0.50% of the stock is owned by insiders.
NIKE Price Performance
Shares of NYSE NKE opened at $96.26 on Friday. The stock’s 50-day simple moving average is $104.70 and its two-hundred day simple moving average is $112.71. NIKE, Inc. has a twelve month low of $82.22 and a twelve month high of $131.31. The firm has a market capitalization of $147.27 billion, a P/E ratio of 29.80, a P/E/G ratio of 1.72 and a beta of 1.12. The company has a quick ratio of 1.81, a current ratio of 2.72 and a debt-to-equity ratio of 0.64.
NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.02). NIKE had a return on equity of 34.01% and a net margin of 9.90%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.58 billion. During the same quarter last year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 3.71 EPS for the current fiscal year.
NIKE Dividend Announcement
The business 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 $0.34 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.36 annualized dividend and a yield of 1.41%. NIKE’s dividend payout ratio (DPR) is presently 42.11%.
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.
- Five stocks we like better than NIKE
- Stock Market Upgrades: What Are They?
- 5 Reasons Apple’s New Phone Moves the Needle: 5 That It Won’t
- What is the Hang Seng index?
- MarketBeat Week in Review – 9/11 – 9/15
- Market Cap Calculator: How to Calculate Market Cap
- China’s Jump In Car Sales Is Drawing Big Money To These Stocks
Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.