State of New Jersey Common Pension Fund D lowered its position in Nike Inc (NYSE:NKE) by 66.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 367,500 shares of the footwear maker’s stock after selling 735,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Nike were worth $20,481,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Clarius Group LLC bought a new stake in Nike during the fourth quarter valued at $111,000. Crestwood Advisors Group LLC bought a new stake in Nike during the first quarter valued at $117,000. Gierl Augustine Investment Management Inc boosted its stake in Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock valued at $118,000 after buying an additional 107 shares during the last quarter. Asset Planning Services Ltd. bought a new stake in Nike during the first quarter valued at $118,000. Finally, SRS Capital Advisors Inc. bought a new stake in Nike during the fourth quarter valued at $120,000. Institutional investors and hedge funds own 62.23% of the company’s stock.
Nike Inc (NYSE:NKE) opened at 52.59 on Friday. Nike Inc has a one year low of $49.01 and a one year high of $60.33. The company’s 50-day moving average is $54.34 and its 200-day moving average is $53.90. The firm has a market capitalization of $86.81 billion, a P/E ratio of 21.94 and a beta of 0.44.
Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.15. Nike had a return on equity of 31.70% and a net margin of 11.60%. The business had revenue of $8.43 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same period last year, the business earned $0.55 EPS. The business’s revenue was up 5.0% on a year-over-year basis. Equities analysts forecast that Nike Inc will post $2.40 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, June 1st. Nike’s dividend payout ratio (DPR) is presently 31.72%.
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Several equities research analysts have weighed in on the stock. Canaccord Genuity set a $51.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Friday. Berenberg Bank assumed coverage on shares of Nike in a research report on Tuesday, May 16th. They issued a “buy” rating and a $70.00 price objective for the company. Instinet restated a “buy” rating on shares of Nike in a research report on Monday, May 15th. Nomura restated a “buy” rating on shares of Nike in a research report on Monday, May 15th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $75.00 price objective on shares of Nike in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike currently has an average rating of “Hold” and a consensus target price of $60.93.
In other Nike news, CAO Hilary K. Krane sold 65,000 shares of the firm’s stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $56.00, for a total transaction of $3,640,000.00. Following the transaction, the chief accounting officer now directly owns 270,795 shares in the company, valued at approximately $15,164,520. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 100,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $55.50, for a total value of $5,550,000.00. Following the transaction, the chairman now owns 1,966,235 shares in the company, valued at $109,126,042.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 379,000 shares of company stock worth $21,213,800. Company insiders own 3.90% of the company’s stock.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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