State of New Jersey Common Pension Fund D Sells 13,138 Shares of NIKE, Inc. (NYSE:NKE)

State of New Jersey Common Pension Fund D reduced its holdings in NIKE, Inc. (NYSE:NKE) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 435,787 shares of the footwear maker’s stock after selling 13,138 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NIKE were worth $32,976,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the third quarter valued at approximately $30,000. Caitlin John LLC increased its holdings in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $28,000. Roxbury Financial LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $30,000. Finally, Dunhill Financial LLC increased its holdings in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Guggenheim restated a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. BMO Capital Markets increased their price target on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Finally, Royal Bank of Canada lowered their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.62.

NIKE Price Performance

Shares of NYSE:NKE opened at $73.02 on Monday. 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 market capitalization of $108.00 billion, a PE ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.34. The company has a 50-day moving average price of $74.46 and a two-hundred day moving average price of $78.03.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping 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%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business earned $1.03 earnings per share. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. 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.