NIKE, Inc. (NYSE:NKE) Stock Position Raised by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in NIKE, Inc. by 7.8% in Q1, now holding 160,504 shares valued at approximately $10.19 million.
• NIKE reported a quarterly earnings per share (EPS) of $0.14, surpassing analysts' expectations of $0.12, with revenue reaching $11.10 billion.
• The company has a current consensus rating of "Moderate Buy" among analysts, with an average target price of $78.22 per share.

Public Sector Pension Investment Board lifted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 7.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 160,504 shares of the footwear maker's stock after buying an additional 11,676 shares during the period. Public Sector Pension Investment Board's holdings in NIKE were worth $10,189,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at about $28,000. Putney Financial Group LLC acquired a new position in NIKE during the 4th quarter valued at about $40,000. Minot DeBlois Advisors LLC bought a new position in NIKE in the 4th quarter worth about $42,000. N.E.W. Advisory Services LLC bought a new position in NIKE in the 1st quarter worth about $37,000. Finally, Roxbury Financial LLC grew its position in NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on NKE shares. Wells Fargo & Company upped their target price on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Telsey Advisory Group restated a "market perform" rating and issued a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. Royal Bank Of Canada decreased their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Finally, Morgan Stanley upped their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and an average target price of $78.22.

NIKE Stock Up 3.2%

NKE stock opened at $77.28 on Thursday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company's 50 day simple moving average is $70.49 and its 200-day simple moving average is $67.67. 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 firm has a market capitalization of $114.13 billion, a P/E ratio of 35.78, a P/E/G ratio of 2.72 and a beta of 1.27.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio is currently 74.07%.

Insiders Place Their Bets

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

NIKE Company 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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