Utah Retirement Systems lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 238,631 shares of the footwear maker’s stock after selling 7,200 shares during the quarter. Utah Retirement Systems’ holdings in NIKE were worth $31,712,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of NKE. Eukles Asset Management bought a new position in shares of NIKE during the 1st quarter worth approximately $33,000. Goodwin Investment Advisory bought a new position in shares of NIKE during the 1st quarter worth approximately $40,000. Geo Capital Gestora de Recursos Ltd lifted its position in shares of NIKE by 128.4% during the 1st quarter. Geo Capital Gestora de Recursos Ltd now owns 370 shares of the footwear maker’s stock worth $49,000 after buying an additional 208 shares during the period. Cordasco Financial Network lifted its position in shares of NIKE by 85.4% during the 1st quarter. Cordasco Financial Network now owns 380 shares of the footwear maker’s stock worth $50,000 after buying an additional 175 shares during the period. Finally, Concord Wealth Partners bought a new position in shares of NIKE during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 64.64% of the company’s stock.
NYSE:NKE traded up $1.04 on Thursday, reaching $162.12. The company’s stock had a trading volume of 75,199 shares, compared to its average volume of 8,762,458. NIKE, Inc. has a 1-year low of $95.80 and a 1-year high of $162.73. The company has a current ratio of 2.72, a quick ratio of 2.01 and a debt-to-equity ratio of 0.74. The stock has a market cap of $256.14 billion, a price-to-earnings ratio of 45.25, a PEG ratio of 2.46 and a beta of 0.86. The stock’s 50-day moving average price is $143.08.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 1st. Shareholders of record on Tuesday, June 1st were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, May 28th. This represents a $1.10 dividend on an annualized basis and a yield of 0.68%. NIKE’s payout ratio is 30.90%.
Several research firms recently commented on NKE. Robert W. Baird raised their target price on NIKE from $150.00 to $192.00 and gave the stock an “outperform” rating in a research report on Friday, June 25th. Jefferies Financial Group lifted their price objective on NIKE from $192.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, June 25th. KGI Securities began coverage on NIKE in a research report on Tuesday, July 6th. They issued an “outperform” rating for the company. Argus lifted their price objective on NIKE from $174.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, July 14th. Finally, BMO Capital Markets lifted their price objective on NIKE from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, June 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $172.39.
In other news, Director John G. Connors sold 66,000 shares of the company’s stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $159.50, for a total transaction of $10,527,000.00. Following the completion of the transaction, the director now directly owns 70,514 shares of the company’s stock, valued at $11,246,983. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 140,000 shares of the company’s stock in a transaction dated Thursday, July 8th. The stock was sold at an average price of $160.16, for a total value of $22,422,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 336,339 shares of company stock valued at $52,513,095. Insiders own 3.80% of the company’s stock.
NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.
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