State of Alaska Department of Revenue Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

State of Alaska Department of Revenue cut its position in NIKE, Inc. (NYSE:NKE) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,830 shares of the footwear maker’s stock after selling 5,835 shares during the quarter. State of Alaska Department of Revenue’s holdings in NIKE were worth $14,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Axxcess Wealth Management LLC boosted its stake in shares of NIKE by 32.3% in the third quarter. Axxcess Wealth Management LLC now owns 9,133 shares of the footwear maker’s stock valued at $873,000 after purchasing an additional 2,229 shares during the period. Alps Advisors Inc. boosted its stake in NIKE by 114.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,649 shares of the footwear maker’s stock valued at $7,042,000 after acquiring an additional 39,310 shares during the last quarter. Legacy Advisors LLC boosted its stake in NIKE by 14.7% during the 3rd quarter. Legacy Advisors LLC now owns 48,523 shares of the footwear maker’s stock valued at $4,656,000 after acquiring an additional 6,232 shares during the last quarter. London Co. of Virginia boosted its stake in NIKE by 10.0% during the 3rd quarter. London Co. of Virginia now owns 148,269 shares of the footwear maker’s stock valued at $14,177,000 after acquiring an additional 13,503 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in NIKE by 1.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 16,321 shares of the footwear maker’s stock valued at $1,561,000 after acquiring an additional 264 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. BMO Capital Markets reduced their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Royal Bank of Canada reduced their price objective on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Bank of America reduced their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Finally, UBS Group restated a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of “Hold” and a consensus price target of $97.19.

NIKE Stock Down 1.0 %

NIKE stock opened at $75.27 on Thursday. The company’s 50-day moving average price is $92.58 and its two-hundred day moving average price is $98.22. The stock has a market cap of $113.61 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 1.85 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 52 week low of $74.29 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. On average, analysts expect that NIKE, Inc. will post 3.32 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.97%. NIKE’s dividend payout ratio is currently 39.68%.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

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.