NIKE, Inc. $NKE Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 983,076 shares of the footwear maker’s stock after selling 13,995 shares during the quarter. Retirement Systems of Alabama owned 0.07% of NIKE worth $69,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NKE. Goldman Sachs Group Inc. boosted its holdings in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Wellington Management Group LLP boosted its holdings in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Jennison Associates LLC purchased a new position in NIKE during the 1st quarter valued at about $509,051,000. Nuveen LLC purchased a new position in NIKE during the 1st quarter valued at about $502,285,000. Finally, Vanguard Group Inc. boosted its holdings in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research analyst reports. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Truist Financial restated a “buy” rating and set a $85.00 target price on shares of NIKE in a report on Wednesday, October 1st. Piper Sandler set a $84.00 target price on NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. Finally, UBS Group set a $71.00 price objective on NIKE and gave the company a “neutral” rating in a research note on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $65.35 on Thursday. The stock has a 50-day simple moving average of $71.79 and a 200-day simple moving average of $68.17. The stock has a market capitalization of $96.59 billion, a PE ratio of 33.51, a PEG ratio of 2.48 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. On average, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.4%. NIKE’s payout ratio is 82.05%.

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.