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

Louisiana State Employees Retirement System reduced its position in NIKE, Inc. (NYSE:NKE) by 2.0% in the 2nd quarter, Holdings Channel.com reports. 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 large investors have also modified their holdings of the company. Spire Wealth Management boosted its holdings in shares of NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after acquiring an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in NIKE in the 1st quarter valued at $25,963,000. BROOKFIELD Corp ON grew its position in NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after buying an additional 175,000 shares during the last quarter. Finally, Cadence Bank grew its position in NIKE by 10.0% in the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after buying an additional 7,574 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NKE shares. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Morgan Stanley set a $72.00 price objective on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Stifel Nicolaus set a $68.00 price objective on shares of NIKE and gave the company a “hold” rating in a research report on Wednesday, October 1st. Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Finally, DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $81.57.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,378 shares of company stock valued at $14,794,264. 0.80% of the stock is currently owned by company insiders.

NIKE Trading Up 0.3%

NYSE:NKE opened at $69.10 on Thursday. The company has a market capitalization of $102.05 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $84.76. The stock has a fifty day simple moving average of $74.12 and a 200-day simple moving average of $67.29.

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

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) 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.