Public Employees Retirement System of Ohio Has $34.03 Million Stake in NIKE, Inc. $NKE

Key Points

• The Public Employees Retirement System of Ohio holds a stake worth $34.03 million in NIKE, Inc., having reduced its shareholdings by 4.1% in the second quarter.
• NIKE's recent earnings report showed a per-share profit of $0.14, exceeding analysts’ expectations, while revenue for the quarter was $11.10 billion, down 11.9% year-over-year.
• Several analysts have recently raised their target prices for NIKE, with a consensus target price of $79.46, indicating a predominantly positive outlook on the stock.

Public Employees Retirement System of Ohio reduced its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 479,025 shares of the footwear maker's stock after selling 20,653 shares during the period. Public Employees Retirement System of Ohio's holdings in NIKE were worth $34,030,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. EWG Elevate Inc. acquired a new stake in shares of NIKE during the 2nd quarter valued at about $209,000. Alhambra Investment Management LLC boosted its position in shares of NIKE by 3.5% during the 2nd quarter. Alhambra Investment Management LLC now owns 6,181 shares of the footwear maker's stock valued at $439,000 after acquiring an additional 208 shares in the last quarter. IMS Capital Management acquired a new stake in shares of NIKE during the 2nd quarter valued at about $873,000. Ballentine Partners LLC boosted its position in shares of NIKE by 1.1% during the 2nd quarter. Ballentine Partners LLC now owns 21,729 shares of the footwear maker's stock valued at $1,544,000 after acquiring an additional 239 shares in the last quarter. Finally, Accurate Wealth Management LLC acquired a new stake in shares of NIKE during the 2nd quarter valued at about $415,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of NIKE from $64.00 to $70.00 and gave the company an "equal weight" rating in a research report on Tuesday. Robert W. Baird lifted their target price on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $64.00 to $93.00 in a research report on Monday, July 28th. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a report on Friday, June 27th. Finally, The Goldman Sachs Group lifted their price target on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $79.46.

NIKE Trading Up 0.4%

Shares of NYSE NKE opened at $71.21 on Thursday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a market cap of $105.17 billion, a PE ratio of 32.97, a P/E/G ratio of 2.58 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $75.12 and a two-hundred day moving average of $67.43.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The company's revenue was down 11.9% on a year-over-year basis. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE's payout ratio is currently 74.07%.

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.

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