NIKE, Inc. (NYSE:NKE) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in NIKE, Inc. (NYSE:NKE) by 0.3% in the first quarter, HoldingsChannel reports. The fund owned 267,216 shares of the footwear maker’s stock after selling 827 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in NIKE were worth $25,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of NKE. Norges Bank purchased a new position in shares of NIKE during the 4th quarter valued at approximately $1,315,097,000. Price T Rowe Associates Inc. MD lifted its holdings in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Capital International Investors grew its position in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Jennison Associates LLC increased its stake in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of NIKE by 13,094.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock worth $169,722,000 after purchasing an additional 1,551,405 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE traded up $0.17 during trading hours on Wednesday, reaching $72.98. The company had a trading volume of 8,126,035 shares, compared to its average volume of 11,312,314. The company has a market capitalization of $110.15 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.86 and a beta of 1.01. NIKE, Inc. has a 12-month low of $71.24 and a 12-month high of $123.39. The firm has a 50 day simple moving average of $88.66 and a 200-day simple moving average of $95.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Telsey Advisory Group lowered their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada lowered their target price on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. BMO Capital Markets cut their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company cut their price target on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $96.44.

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. In the last quarter, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is currently owned by company insiders.

NIKE Company 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.