Kentucky Retirement Systems Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Kentucky Retirement Systems reduced its position in NIKE, Inc. (NYSE:NKE) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,563 shares of the footwear maker’s stock after selling 1,137 shares during the quarter. Kentucky Retirement Systems’ holdings in NIKE were worth $6,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Garrison Point Advisors LLC lifted its position in NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares during the last quarter. PSI Advisors LLC raised its stake in shares of NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares in the last quarter. JNBA Financial Advisors lifted its holdings in shares of NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after acquiring an additional 131 shares during the last quarter. Frisch Financial Group Inc. boosted its stake in shares of NIKE by 4.7% in the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after purchasing an additional 136 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its holdings in shares of NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Trading Up 0.5 %

Shares of NYSE NKE opened at $77.19 on Friday. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $106.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a 50-day moving average of $74.33 and a 200 day moving average of $78.05. The stock has a market cap of $114.17 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period last year, the business earned $1.03 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. UBS Group restated a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Robert W. Baird reduced their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Finally, Stifel Nicolaus cut their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $88.62.

NIKE 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.