State of Michigan Retirement System Acquires 5,800 Shares of NIKE, Inc. (NYSE:NKE)

State of Michigan Retirement System lifted its holdings in NIKE, Inc. (NYSE:NKE) by 1.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 408,215 shares of the footwear maker’s stock after acquiring an additional 5,800 shares during the quarter. State of Michigan Retirement System’s holdings in NIKE were worth $30,890,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $28,000. Caitlin John LLC increased its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE in the third quarter worth $30,000. Roxbury Financial LLC purchased a new position in shares of NIKE in the fourth quarter worth $30,000. Finally, BankPlus Trust Department purchased a new position in shares of NIKE in the fourth quarter worth $34,000. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

NKE opened at $78.29 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market capitalization of $115.80 billion, a P/E ratio of 24.16, a P/E/G ratio of 2.52 and a beta of 1.01. The company’s 50-day simple moving average is $74.67 and its two-hundred day simple moving average is $78.29. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $102.49.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 EPS. As a group, analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Robert W. Baird decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Evercore ISI decreased their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Morgan Stanley decreased their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

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.