Public Employees Retirement Association of Colorado Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Public Employees Retirement Association of Colorado decreased its position in NIKE, Inc. (NYSE:NKE) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,682,516 shares of the footwear maker’s stock after selling 4,952 shares during the quarter. NIKE accounts for approximately 1.1% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 11th largest position. Public Employees Retirement Association of Colorado owned about 0.11% of NIKE worth $259,932,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TFC Financial Management raised its holdings in NIKE by 6.1% during the second quarter. TFC Financial Management now owns 1,041 shares of the footwear maker’s stock worth $161,000 after purchasing an additional 60 shares in the last quarter. Wealthquest Corp raised its holdings in NIKE by 1.7% during the second quarter. Wealthquest Corp now owns 3,728 shares of the footwear maker’s stock worth $576,000 after purchasing an additional 63 shares in the last quarter. Baxter Bros Inc. raised its holdings in NIKE by 1.2% during the second quarter. Baxter Bros Inc. now owns 5,572 shares of the footwear maker’s stock worth $861,000 after purchasing an additional 65 shares in the last quarter. Wealth Dimensions Group Ltd. raised its holdings in NIKE by 3.7% during the second quarter. Wealth Dimensions Group Ltd. now owns 1,872 shares of the footwear maker’s stock worth $289,000 after purchasing an additional 66 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in NIKE by 3.5% during the second quarter. Prestige Wealth Management Group LLC now owns 1,960 shares of the footwear maker’s stock worth $303,000 after purchasing an additional 66 shares in the last quarter. 64.45% of the stock is currently owned by institutional investors.

In other NIKE news, COO Andrew Campion sold 7,125 shares of the business’s stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $171.50, for a total transaction of $1,221,937.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heidi O’neill sold 13,000 shares of the business’s stock in a transaction dated Wednesday, July 21st. The shares were sold at an average price of $160.77, for a total transaction of $2,090,010.00. The disclosure for this sale can be found here. Insiders sold a total of 66,671 shares of company stock valued at $11,230,087 over the last ninety days. Company insiders own 3.70% of the company’s stock.

A number of brokerages have issued reports on NKE. Wedbush began coverage on shares of NIKE in a report on Monday, October 4th. They issued an “outperform” rating and a $170.00 target price for the company. Telsey Advisory Group dropped their target price on shares of NIKE from $180.00 to $176.00 and set an “outperform” rating for the company in a report on Friday, September 24th. Barclays dropped their target price on shares of NIKE from $194.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, September 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $213.00 target price on shares of NIKE in a report on Friday, September 17th. Finally, Cowen increased their price target on shares of NIKE from $145.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, June 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $174.94.

Shares of NKE traded up $1.18 during midday trading on Thursday, hitting $157.48. The company had a trading volume of 197,316 shares, compared to its average volume of 6,575,932. NIKE, Inc. has a 52 week low of $118.80 and a 52 week high of $174.38. The company’s 50 day moving average price is $160.78 and its 200 day moving average price is $148.68. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt-to-equity ratio of 0.74. The stock has a market cap of $249.10 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 2.49 and a beta of 0.87.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.04. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The business had revenue of $12.25 billion during the quarter, compared to analyst estimates of $12.47 billion. During the same period in the previous year, the business posted $0.95 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Equities analysts anticipate that NIKE, Inc. will post 4.3 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 1st. Stockholders of record on Monday, August 30th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, August 27th. NIKE’s dividend payout ratio (DPR) is presently 30.90%.

NIKE Company Profile

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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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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