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

Retirement Systems of Alabama decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 983,076 shares of the footwear maker’s stock after selling 13,995 shares during the period. Retirement Systems of Alabama’s holdings in NIKE were worth $69,838,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP boosted its position in NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Bank of New York Mellon Corp boosted its position in NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after purchasing an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE boosted its position in NIKE by 24.0% during the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after purchasing an additional 1,988,547 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on NKE shares. Needham & Company LLC reiterated a “buy” rating and set a $78.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Sanford C. Bernstein restated a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research report on Monday, October 13th. Telsey Advisory Group restated a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Finally, Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Stock Performance

NIKE stock opened at $65.35 on Thursday. The firm has a market capitalization of $96.59 billion, a P/E ratio of 33.51, a PEG ratio of 2.48 and a beta of 1.29. The stock has a fifty day moving average price of $71.79 and a 200 day moving average price of $68.17. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 earnings per share. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

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.