Kentucky Retirement Systems Takes $11.47 Million Position in NIKE, Inc. (NYSE:NKE)

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.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.04. The firm had revenue of $12.25 billion during the quarter, compared to analysts’ expectations of $12.47 billion. NIKE had a net margin of 12.86% and a return on equity of 51.41%. NIKE’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Research analysts forecast that NIKE, Inc. will post 4.3 EPS for the current fiscal year.

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 Profile

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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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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