NIKE, Inc. (NYSE:NKE) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System grew its stake in NIKE, Inc. (NYSE:NKE) by 0.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 351,211 shares of the footwear maker’s stock after purchasing an additional 1,908 shares during the period. Arizona State Retirement System’s holdings in NIKE were worth $26,471,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Beta Wealth Group Inc. boosted its stake in NIKE by 2.3% during the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock worth $489,000 after purchasing an additional 101 shares during the period. Kampmann Melissa S. boosted its stake in NIKE by 0.8% during the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after purchasing an additional 115 shares during the period. Ascent Wealth Partners LLC boosted its stake in NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after purchasing an additional 115 shares during the period. Condor Capital Management boosted its stake in NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after purchasing an additional 116 shares during the period. Finally, Bell Investment Advisors Inc boosted its stake in NIKE by 4.7% during the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 0.2 %

NYSE NKE opened at $80.83 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company’s 50 day moving average price is $76.83 and its 200 day moving average price is $88.94. The firm has a market capitalization of $122.00 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.19 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts predict that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.83%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Evercore ISI decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Truist Financial reduced their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Citigroup reduced their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, UBS Group restated a “neutral” rating and issued a $78.00 target price on shares of NIKE in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.59.

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.