State of New Jersey Common Pension Fund D Has $75.83 Million Holdings in NIKE, Inc. (NYSE:NKE)

State of New Jersey Common Pension Fund D trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 698,452 shares of the footwear maker’s stock after selling 4,040 shares during the period. State of New Jersey Common Pension Fund D’s holdings in NIKE were worth $75,831,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC lifted its position in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Impact Partnership Wealth LLC raised its stake in shares of NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after buying an additional 181 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE during the fourth quarter worth approximately $29,000. Mizuho Securities Co. Ltd. raised its stake in shares of NIKE by 100.0% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock worth $37,000 after buying an additional 170 shares during the last quarter. Finally, NewSquare Capital LLC raised its stake in shares of NIKE by 372.0% during the fourth quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock worth $38,000 after buying an additional 279 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE:NKE traded up $0.17 during mid-day trading on Friday, reaching $94.11. 6,115,249 shares of the company’s stock were exchanged, compared to its average volume of 9,429,240. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The firm has a market capitalization of $142.05 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 1.83 and a beta of 1.08. The business’s fifty day simple moving average is $97.15 and its two-hundred day simple moving average is $103.32. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. Analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Oppenheimer downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target for the company. in a research note on Friday, February 16th. The Goldman Sachs Group reduced their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. TheStreet cut shares of NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Robert W. Baird reduced their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, Barclays reduced their target price on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.26.

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.