Kentucky Retirement Systems purchased a new stake in NIKE, Inc. (NYSE:NKE) during the second quarter, Holdings Channel reports. The fund purchased 74,242 shares of the footwear maker’s stock, valued at approximately $11,470,000.
Several other institutional investors also recently added to or reduced their stakes in NKE. OLD Mission Capital LLC purchased a new stake in shares of NIKE in the 3rd quarter valued at approximately $338,000. Rafferty Asset Management LLC raised its stake in shares of NIKE by 107.4% in the 1st quarter. Rafferty Asset Management LLC now owns 8,952 shares of the footwear maker’s stock valued at $1,190,000 after acquiring an additional 4,636 shares during the period. Summit X LLC purchased a new stake in shares of NIKE in the 1st quarter valued at approximately $909,000. Strategic Blueprint LLC increased its stake in NIKE by 11.7% during the 1st quarter. Strategic Blueprint LLC now owns 3,279 shares of the footwear maker’s stock worth $436,000 after buying an additional 344 shares during the period. Finally, Rational Advisors LLC increased its stake in NIKE by 21.9% during the 1st quarter. Rational Advisors LLC now owns 27,839 shares of the footwear maker’s stock worth $3,700,000 after buying an additional 5,000 shares during the period. 64.45% of the stock is currently owned by institutional investors and hedge funds.
NYSE:NKE traded down $0.84 during trading hours on Monday, reaching $148.75. 186,122 shares of the company’s stock were exchanged, compared to its average volume of 6,440,750. The firm has a market capitalization of $235.29 billion, a price-to-earnings ratio of 42.02, a P/E/G ratio of 2.49 and a beta of 0.87. The company has a 50-day moving average of $164.95 and a 200 day moving average of $147.80. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt-to-equity ratio of 0.74. NIKE, Inc. has a 1-year low of $118.80 and a 1-year high of $174.38.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Monday, August 30th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 27th. This represents a $1.10 dividend on an annualized basis and a yield of 0.74%. NIKE’s payout ratio is currently 30.90%.
NKE has been the topic of several recent research reports. JPMorgan Chase & Co. set a $192.00 target price on shares of NIKE in a research note on Friday. BMO Capital Markets cut their target price on shares of NIKE from $174.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday. Guggenheim upped their target price on shares of NIKE from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, June 25th. Telsey Advisory Group cut their target price on shares of NIKE from $180.00 to $176.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Barclays cut their target price on shares of NIKE from $194.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $174.13.
In other news, COO Andrew Campion sold 7,125 shares of the stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $171.50, for a total value of $1,221,937.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hilary K. Krane sold 16,000 shares of the stock in a transaction dated Friday, July 2nd. The shares were sold at an average price of $159.00, for a total transaction of $2,544,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 306,671 shares of company stock valued at $49,513,487. 3.70% of the stock is owned by insiders.
NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.
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