National Pension Service Purchases 247,230 Shares of NIKE, Inc. $NKE

National Pension Service raised its position in shares of NIKE, Inc. (NYSE:NKE) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,088,640 shares of the footwear maker’s stock after buying an additional 247,230 shares during the quarter. National Pension Service’s holdings in NIKE were worth $126,789,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Cornerstone Financial Management LLC purchased a new stake in NIKE during the fourth quarter valued at approximately $26,000. Sankala Group LLC purchased a new position in NIKE in the fourth quarter worth $26,000. J.Safra Asset Management Corp purchased a new position in NIKE in the fourth quarter worth $29,000. Kemnay Advisory Services Inc. acquired a new position in shares of NIKE during the fourth quarter worth $30,000. Finally, Scarborough Advisors LLC acquired a new position in shares of NIKE during the first quarter worth $25,000. 64.25% of the stock is currently owned by institutional investors.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Neutral Sentiment: Shareholders approved an expanded employee stock purchase plan adopted by NIKE’s board in July. The plan could support employee retention, although the potential for additional share issuance may limit its benefit to existing investors. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
• Neutral Sentiment: Some commentary argues that NIKE’s underlying business is not fundamentally broken and that its depressed valuation and dividend yield could appeal to long-term investors, though a turnaround remains necessary. Nike: The Sentiment Is Bleak, But The Underlying Business Is Not Broken
• Negative Sentiment: Morgan Stanley warned that the pain may not be over, citing persistent operating weakness, disappointing share performance and NIKE’s imminent removal from the S&P 100. Morgan Stanley Says the Pain May Not Be Over Yet
• Negative Sentiment: BMO initiated coverage with an Underperform rating, pointing to challenges facing NIKE and the broader athletic-apparel market. The new bearish call adds to pressure on the stock. BMO Says Sell Nike Stock
• Negative Sentiment: NIKE is set to lose its S&P 100 membership after nearly 18 years, a high-profile consequence of its severe decline that could reduce index-related demand and reinforce negative sentiment. Nike Loses Its S&P 100 Membership
• Negative Sentiment: Analysts continue to cite shifting consumer preferences, intense competition and NIKE’s broad product and market exposure as structural challenges, leaving investors concerned that a recovery could take time. Shifting Consumer Preferences Continue to Impact Nike and Lululemon

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating on shares of NIKE in a research report on Tuesday, August 25th. Bank of America reduced their target price on NIKE from $55.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. CICC Research decreased their price target on NIKE from $58.00 to $44.80 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. UBS Group reissued a “neutral” rating on shares of NIKE in a report on Wednesday. Finally, Wells Fargo & Company dropped their price target on NIKE from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.12.

NIKE Price Performance

Shares of NKE opened at $36.57 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The company’s fifty day moving average price is $41.19 and its 200-day moving average price is $45.38. NIKE, Inc. has a 1-year low of $36.55 and a 1-year high of $76.97. The firm has a market capitalization of $54.25 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. During the same quarter last year, the business posted $0.14 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities research analysts predict that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.5%. NIKE’s dividend payout ratio is currently 78.47%.

Insider Transactions at NIKE

In related news, COO Venkatesh Alagirisamy sold 3,671 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $137,992.89. Following the sale, the chief operating officer owned 104,862 shares in the company, valued at $3,941,762.58. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the transaction, the insider owned 57,436 shares in the company, valued at approximately $2,415,183.80. This trade represents a 7.81% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 14,974 shares of company stock valued at $600,126. 1.10% of the stock is owned by company insiders.

About NIKE

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.