NIKE, Inc. (NYSE:NKE) Shares Sold by Maryland State Retirement & Pension System

Key Points

• Maryland State Retirement & Pension System sold 12.9% of its shares in NIKE, Inc., reducing its holdings to 55,279 shares worth approximately $3.5 million.
• NIKE recently reported earnings of $0.14 per share, surpassing estimates and generating revenue of $11.10 billion, despite an 11.9% decline year-over-year.
• The company announced a quarterly dividend of $0.40, yielding 2.2%, with an annualized dividend payout ratio of 74.07% for investors of record.

Maryland State Retirement & Pension System lowered its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 12.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 55,279 shares of the footwear maker's stock after selling 8,193 shares during the quarter. Maryland State Retirement & Pension System's holdings in NIKE were worth $3,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at about $28,000. EnRich Financial Partners LLC lifted its holdings in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after buying an additional 273 shares during the period. Roxbury Financial LLC lifted its holdings in shares of NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after buying an additional 201 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of NIKE in the 1st quarter valued at about $37,000. Finally, Putney Financial Group LLC acquired a new position in shares of NIKE in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Price Performance

NKE stock opened at $74.28 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The business has a 50 day simple moving average of $69.43 and a 200-day simple moving average of $67.63. The firm has a market capitalization of $109.71 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 2.74 and a beta of 1.27. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The firm's quarterly revenue was down 11.9% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE's dividend payout ratio is presently 74.07%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.80% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NKE. Piper Sandler boosted their price objective on NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, June 27th. JPMorgan Chase & Co. raised NIKE from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $64.00 to $93.00 in a report on Monday, July 28th. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $70.00 price target on shares of NIKE in a report on Friday, June 27th. Finally, The Goldman Sachs Group upped their price target on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

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.

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