Kentucky Retirement Systems Cuts Position in NIKE, Inc. (NYSE:NKE)

Kentucky Retirement Systems cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 8.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,700 shares of the footwear maker's stock after selling 7,591 shares during the quarter. Kentucky Retirement Systems' holdings in NIKE were worth $7,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC boosted its holdings in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker's stock valued at $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC grew its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock worth $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC raised its position in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker's stock valued at $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in NIKE in the second quarter valued at approximately $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in NIKE in the second quarter valued at approximately $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Telsey Advisory Group decreased their target price on shares of NIKE from $100.00 to $96.00 and set an "outperform" rating for the company in a research note on Wednesday, October 2nd. TD Cowen upped their price objective on shares of NIKE from $71.00 to $78.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on NIKE from $82.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Thursday, November 7th. Williams Trading raised NIKE from a "sell" rating to a "buy" rating and upped their price target for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Finally, Piper Sandler reissued a "neutral" rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $96.48.

NIKE Trading Up 1.3 %

Shares of NYSE NKE traded up $0.98 during trading on Friday, reaching $76.66. The stock had a trading volume of 13,584,939 shares, compared to its average volume of 11,489,007. The business's 50-day moving average price is $80.89 and its 200-day moving average price is $83.27. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market cap of $114.94 billion, a P/E ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, equities research analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. This is an increase from NIKE's previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. NIKE's payout ratio is 45.85%.

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.