NIKE, Inc. $NKE Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,200 shares of the footwear maker’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in NIKE were worth $4,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter valued at about $25,000. Mascoma Wealth Management LLC acquired a new position in NIKE in the second quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC lifted its position in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after buying an additional 362 shares during the last quarter. Saudi Central Bank acquired a new position in NIKE in the first quarter valued at about $30,000. Finally, Matrix Trust Co lifted its position in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on NKE shares. Piper Sandler set a $84.00 target price on shares of NIKE and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, June 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $75.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Bank of America increased their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Finally, Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

Insider Activity at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,378 shares of company stock worth $14,794,264 over the last quarter. 0.80% of the stock is currently owned by insiders.

NIKE Stock Up 0.3%

NKE stock opened at $69.10 on Thursday. The company’s 50 day moving average price is $74.12 and its 200 day moving average price is $67.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76. The firm has a market capitalization of $102.05 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.52 and a beta of 1.29.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 82.05%.

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.