Kentucky Retirement Systems Cuts Position in NIKE, Inc. (NYSE:NKE)

Kentucky Retirement Systems decreased its position in NIKE, Inc. (NYSE:NKE) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,700 shares of the footwear maker’s stock after selling 7,591 shares during the quarter. Kentucky Retirement Systems’ holdings in NIKE were worth $7,399,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Northcape Wealth Management LLC acquired a new stake in shares of NIKE in the 3rd quarter valued at $224,000. Linscomb Wealth Inc. increased its holdings in NIKE by 2,163.2% in the third quarter. Linscomb Wealth Inc. now owns 77,174 shares of the footwear maker’s stock valued at $6,822,000 after buying an additional 73,764 shares during the last quarter. Bank of Marin acquired a new stake in shares of NIKE during the 3rd quarter worth about $287,000. Valley Wealth Managers Inc. lifted its stake in NIKE by 69,300.0% during the third quarter. Valley Wealth Managers Inc. now owns 694 shares of the footwear maker’s stock worth $61,000 after purchasing an additional 693 shares during the last quarter. Finally, Archer Investment Corp boosted its holdings in NIKE by 4.2% in the third quarter. Archer Investment Corp now owns 5,918 shares of the footwear maker’s stock valued at $523,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NKE. Wells Fargo & Company increased their target price on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Guggenheim dropped their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Sanford C. Bernstein reduced their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Barclays cut their price target on NIKE from $84.00 to $81.00 and set an “equal weight” 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 stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $96.48.

NIKE Trading Up 1.3 %

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 company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a fifty day moving average price of $80.89 and a two-hundred day moving average price of $83.27. The stock has a market capitalization of $114.94 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

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.