Louisiana State Employees Retirement System Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Louisiana State Employees Retirement System lowered its stake in NIKE, Inc. (NYSE:NKE) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,600 shares of the footwear maker’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in NIKE were worth $5,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of NIKE by 4.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 256,565 shares of the footwear maker’s stock valued at $24,112,000 after acquiring an additional 11,765 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of NIKE in the 1st quarter worth $66,000. Kathmere Capital Management LLC increased its holdings in shares of NIKE by 4.2% in the 1st quarter. Kathmere Capital Management LLC now owns 3,366 shares of the footwear maker’s stock worth $316,000 after buying an additional 136 shares during the last quarter. Romano Brothers AND Company raised its position in shares of NIKE by 3.7% during the 1st quarter. Romano Brothers AND Company now owns 8,084 shares of the footwear maker’s stock valued at $760,000 after buying an additional 286 shares in the last quarter. Finally, Vicus Capital bought a new position in shares of NIKE in the 1st quarter valued at about $393,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on NKE shares. Wedbush reduced their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. KeyCorp restated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Sanford C. Bernstein lowered their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.56.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

NIKE Price Performance

Shares of NKE stock opened at $78.85 on Friday. The company has a market cap of $118.22 billion, a P/E ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock’s 50-day moving average is $82.71 and its 200 day moving average is $84.98. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the business posted $0.94 EPS. NIKE’s revenue was down 10.4% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.88%. NIKE’s dividend payout ratio (DPR) is 42.41%.

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.