Louisiana State Employees Retirement System Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Louisiana State Employees Retirement System trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,000 shares of the footwear maker’s stock after selling 3,600 shares during the period. Louisiana State Employees Retirement System’s holdings in NIKE were worth $4,843,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its stake in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after buying an additional 1,343,093 shares during the period. Geode Capital Management LLC increased its holdings in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after buying an additional 251,411 shares during the period. Fisher Asset Management LLC lifted its stake in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after acquiring an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in NIKE by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after acquiring an additional 117,187 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Guggenheim reaffirmed a “buy” rating and issued a $110.00 price target on shares of NIKE in a research note on Wednesday. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. cut their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Finally, BMO Capital Markets raised their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $88.62.

Insider Activity

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NKE stock opened at $72.31 on Thursday. The stock has a market capitalization of $106.96 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The stock’s 50 day simple moving average is $74.80 and its 200 day simple moving average is $78.08. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.34. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

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

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.