Public Employees Retirement Association of Colorado Cuts Stock Holdings in Nike Inc (NYSE:NKE)

Public Employees Retirement Association of Colorado lowered its stake in shares of Nike Inc (NYSE:NKE) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,854,176 shares of the footwear maker’s stock after selling 7,069 shares during the quarter. Nike accounts for about 1.0% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 22nd largest position. Public Employees Retirement Association of Colorado owned 0.12% of Nike worth $155,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Nike during the first quarter worth $25,000. Shamrock Asset Management LLC purchased a new position in Nike in the first quarter valued at $25,000. Thor Advisors LLC purchased a new position in Nike in the first quarter valued at $26,000. Mackey Komara & Dankovich LLC purchased a new position in Nike in the first quarter valued at $30,000. Finally, Hexavest Inc. purchased a new position in Nike in the second quarter valued at $30,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of NKE traded up $1.39 during mid-day trading on Tuesday, hitting $83.04. 3,850,985 shares of the company’s stock were exchanged, compared to its average volume of 5,893,064. Nike Inc has a fifty-two week low of $66.53 and a fifty-two week high of $90.00. The stock has a market cap of $128.45 billion, a price-to-earnings ratio of 33.35, a P/E/G ratio of 2.17 and a beta of 0.78. The company has a 50 day simple moving average of $85.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39.

Nike (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.04). Nike had a return on equity of 45.12% and a net margin of 10.30%. The business had revenue of $10.18 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter last year, the company posted $0.69 EPS. Nike’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts expect that Nike Inc will post 2.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.06%. Nike’s dividend payout ratio (DPR) is 35.34%.

Several research firms recently commented on NKE. Canaccord Genuity reissued a “buy” rating and issued a $96.00 target price on shares of Nike in a report on Wednesday, June 19th. JPMorgan Chase & Co. increased their target price on Nike from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Piper Jaffray Companies set a $97.00 target price on Nike and gave the company a “buy” rating in a report on Friday, June 28th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating and set a $95.00 target price on the stock in a report on Monday, May 27th. Finally, UBS Group set a $85.00 target price on Nike and gave the company a “neutral” rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $90.02.

In related news, insider Elliott Hill sold 3,228 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.07, for a total value of $281,061.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth J. Comstock sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the completion of the sale, the director now owns 38,813 shares of the company’s stock, valued at approximately $3,292,894.92. The disclosure for this sale can be found here. Insiders have sold 194,637 shares of company stock valued at $16,767,237 in the last quarter. Insiders own 3.80% of the company’s stock.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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