Treasurer of the State of North Carolina Has $44.95 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Treasurer of the State of North Carolina reduced its holdings in NIKE, Inc. (NYSE:NKE – Get Rating) by 1.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 540,748 shares of the footwear maker’s stock after selling 5,923 shares during the period. Treasurer of the State of North Carolina’s holdings in NIKE were worth $44,947,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Legal & General Group Plc lifted its holdings in NIKE by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 9,278,863 shares of the footwear maker’s stock worth $948,301,000 after buying an additional 61,311 shares during the period. Polen Capital Management LLC increased its position in NIKE by 1.7% during the 3rd quarter. Polen Capital Management LLC now owns 8,105,103 shares of the footwear maker’s stock valued at $673,696,000 after purchasing an additional 132,843 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in NIKE by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,646,168 shares of the footwear maker’s stock worth $1,028,869,000 after purchasing an additional 189,454 shares during the last quarter. Fiera Capital Corp lifted its position in shares of NIKE by 1.3% in the 2nd quarter. Fiera Capital Corp now owns 6,718,107 shares of the footwear maker’s stock worth $686,590,000 after purchasing an additional 84,478 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of NIKE by 7.9% in the 2nd quarter. Clearbridge Investments LLC now owns 6,369,344 shares of the footwear maker’s stock valued at $650,947,000 after purchasing an additional 467,113 shares during the last quarter. Institutional investors own 63.20% of the company’s stock.

NIKE Stock Down 0.5 %

Shares of NYSE:NKE opened at $126.64 on Wednesday. NIKE, Inc. has a 1 year low of $82.22 and a 1 year high of $149.46. The company has a market capitalization of $196.36 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 4.24 and a beta of 1.09. The business has a fifty day moving average price of $117.24 and a two-hundred day moving average price of $107.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.69 and a quick ratio of 1.78.

NIKE (NYSE:NKE – Get Rating) last issued its quarterly earnings results on Tuesday, December 20th. The footwear maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.20. NIKE had a net margin of 11.47% and a return on equity of 36.83%. The company had revenue of $13.32 billion for the quarter, compared to the consensus estimate of $12.61 billion. Analysts forecast that NIKE, Inc. will post 3.11 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 28th. Investors of record on Monday, December 5th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Friday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.31. NIKE’s payout ratio is 38.31%.

Insider Activity at NIKE

In other NIKE news, EVP Monique S. Matheson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $115.83, for a total value of $579,150.00. Following the completion of the sale, the executive vice president now directly owns 60,213 shares of the company’s stock, valued at $6,974,471.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Monique S. Matheson sold 5,000 shares of NIKE stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $115.83, for a total value of $579,150.00. Following the completion of the transaction, the executive vice president now owns 60,213 shares in the company, valued at $6,974,471.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $108.16, for a total transaction of $1,081,600.00. Following the sale, the executive vice president now owns 60,213 shares in the company, valued at $6,512,638.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,000 shares of company stock worth $2,280,750. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets upped their price target on shares of NIKE from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, December 21st. Royal Bank of Canada set a $130.00 target price on NIKE in a research note on Tuesday, January 17th. Wells Fargo & Company increased their price target on NIKE from $135.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Raymond James lifted their price objective on shares of NIKE from $99.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, December 21st. Finally, KGI Securities raised shares of NIKE from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 10th. Twelve analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.18.

About NIKE

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NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.