NIKE, Inc. (NYSE:NKE) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in NIKE, Inc. (NYSE:NKE) by 9.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 35,572 shares of the footwear maker’s stock after selling 3,503 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in NIKE were worth $3,145,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Longview Partners Guernsey LTD acquired a new position in NIKE during the first quarter worth approximately $533,533,000. Capital World Investors increased its holdings in shares of NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the period. PineStone Asset Management Inc. raised its position in NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after purchasing an additional 1,576,049 shares during the last quarter. Renaissance Technologies LLC grew its position in NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of NIKE by 145.2% in the third quarter. KBC Group NV now owns 2,111,708 shares of the footwear maker’s stock valued at $186,675,000 after buying an additional 1,250,380 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $76.66 on Friday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market cap of $114.94 billion, a P/E ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a 50-day moving average of $80.89 and a two-hundred day moving average of $83.27.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the company earned $0.94 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio is currently 42.41%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays decreased their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Robert W. Baird lifted their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Jefferies Financial Group increased their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price target for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Finally, Telsey Advisory Group decreased their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.48.

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.