Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 25.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,461 shares of the footwear maker's stock after selling 9,111 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in NIKE were worth $2,081,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Ramsay Stattman Vela & Price Inc. boosted its position in shares of NIKE by 0.5% during the fourth quarter. Ramsay Stattman Vela & Price Inc. now owns 77,221 shares of the footwear maker's stock valued at $5,843,000 after buying an additional 364 shares during the last quarter. HighMark Wealth Management LLC boosted its position in shares of NIKE by 252.4% during the fourth quarter. HighMark Wealth Management LLC now owns 740 shares of the footwear maker's stock valued at $56,000 after buying an additional 530 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of NIKE by 355.6% during the fourth quarter. Venturi Wealth Management LLC now owns 7,263 shares of the footwear maker's stock valued at $550,000 after buying an additional 5,669 shares during the last quarter. Citizens & Northern Corp boosted its position in shares of NIKE by 9.8% during the fourth quarter. Citizens & Northern Corp now owns 17,606 shares of the footwear maker's stock valued at $1,332,000 after buying an additional 1,572 shares during the last quarter. Finally, Human Investing LLC boosted its position in shares of NIKE by 13.6% during the fourth quarter. Human Investing LLC now owns 22,870 shares of the footwear maker's stock valued at $1,731,000 after buying an additional 2,731 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NKE shares. Telsey Advisory Group reaffirmed a "market perform" rating and set a $80.00 price objective on shares of NIKE in a research report on Wednesday. Piper Sandler raised NIKE from a "neutral" rating to an "overweight" rating and increased their target price for the company from $72.00 to $90.00 in a report on Friday, January 10th. Barclays lowered their target price on NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a report on Friday, December 20th. Stifel Nicolaus lowered their target price on NIKE from $79.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, December 20th. Finally, Citigroup downgraded NIKE from a "buy" rating to a "neutral" rating and lowered their target price for the company from $102.00 to $72.00 in a report on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.62.

NIKE Price Performance

NKE traded down $0.73 on Friday, hitting $76.50. 12,813,494 shares of the company's stock traded hands, compared to its average volume of 13,223,615. The company's 50 day simple moving average is $74.33 and its 200-day simple moving average is $78.05. The firm has a market cap of $113.15 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a one year low of $68.62 and a one year high of $106.62. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE's dividend payout ratio is presently 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business's stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company's stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company's stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.