NIKE, Inc. (NYSE:NKE) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,270,287 shares of the footwear maker's stock after selling 159,718 shares during the period. California Public Employees Retirement System owned about 0.15% of NIKE worth $171,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Life Planning Partners Inc purchased a new position in shares of NIKE in the 4th quarter valued at about $11,183,000. Schroder Investment Management Group raised its position in NIKE by 12.9% in the 4th quarter. Schroder Investment Management Group now owns 1,940,186 shares of the footwear maker's stock valued at $144,835,000 after purchasing an additional 221,349 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of NIKE by 7,238.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,627,424 shares of the footwear maker's stock valued at $123,147,000 after buying an additional 1,605,248 shares during the last quarter. MV Capital Management Inc. lifted its position in NIKE by 5.6% during the 4th quarter. MV Capital Management Inc. now owns 5,930 shares of the footwear maker's stock worth $449,000 after acquiring an additional 316 shares during the period. Finally, Allianz SE purchased a new position in NIKE in the 4th quarter valued at $9,998,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

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NIKE Trading Up 2.0 %

NYSE NKE traded up $1.30 during trading hours on Tuesday, hitting $64.78. 13,476,963 shares of the company's stock were exchanged, compared to its average volume of 12,950,787. NIKE, Inc. has a 12-month low of $62.65 and a 12-month high of $98.04. The business's 50 day moving average is $74.01 and its 200-day moving average is $76.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market capitalization of $95.81 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business's quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.47%. NIKE's dividend payout ratio (DPR) is 53.16%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NKE. UBS Group dropped their target price on NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Guggenheim restated a "buy" rating and set a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Wells Fargo & Company reduced their price target on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their price target on NIKE from $73.00 to $64.00 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Finally, Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $87.38.

About NIKE

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.