Retirement Systems of Alabama Grows Position in NIKE, Inc. (NYSE:NKE)

Retirement Systems of Alabama lifted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 774,760 shares of the footwear maker's stock after purchasing an additional 63,458 shares during the period. Retirement Systems of Alabama owned about 0.05% of NIKE worth $84,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Newport Trust Company LLC purchased a new stake in shares of NIKE in the third quarter worth $679,775,000. Flossbach Von Storch AG grew its stake in NIKE by 433.5% during the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker's stock valued at $394,775,000 after acquiring an additional 3,354,677 shares in the last quarter. Van ECK Associates Corp grew its stake in NIKE by 117.0% during the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker's stock valued at $285,564,000 after acquiring an additional 1,610,273 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in NIKE by 37.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker's stock valued at $553,786,000 after acquiring an additional 1,583,541 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in NIKE during the third quarter valued at $97,724,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 0.2 %

NKE stock traded up $0.18 during trading on Friday, hitting $94.12. The company had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. The firm has a market capitalization of $142.06 billion, a P/E ratio of 27.68, a PEG ratio of 1.82 and a beta of 1.08. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.68. The company has a 50 day simple moving average of $96.96 and a 200-day simple moving average of $103.37. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, research analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE's dividend payout ratio (DPR) is 43.53%.

Analyst Ratings Changes

Several equities analysts recently weighed in on NKE shares. Barclays cut their target price on shares of NIKE from $142.00 to $114.00 and set an "overweight" rating for the company in a research note on Monday, March 25th. Wedbush reaffirmed an "outperform" rating and set a $115.00 target price on shares of NIKE in a research note on Wednesday, March 27th. HSBC lowered their price objective on shares of NIKE from $120.00 to $115.00 and set a "hold" rating for the company in a research report on Monday, January 22nd. Morgan Stanley lowered their price objective on shares of NIKE from $124.00 to $116.00 and set an "overweight" rating for the company in a research report on Wednesday, March 27th. Finally, Piper Sandler lowered their price objective on shares of NIKE from $107.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $116.26.

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.