New York State Common Retirement Fund Cuts Stake in NIKE, Inc. (NYSE:NKE)

New York State Common Retirement Fund lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,750,840 shares of the footwear maker’s stock after selling 136,862 shares during the period. New York State Common Retirement Fund owned 0.12% of NIKE worth $154,774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bristlecone Advisors LLC grew its position in NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after acquiring an additional 11,665 shares during the last quarter. Cordatus Wealth Management LLC lifted its stake in shares of NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares during the period. Farmers & Merchants Investments Inc. grew its stake in shares of NIKE by 44.8% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after buying an additional 60,008 shares during the last quarter. Lafayette Investments Inc. boosted its stake in NIKE by 90.7% in the 3rd quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock worth $4,075,000 after purchasing an additional 21,922 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after purchasing an additional 9,689 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE traded up $0.45 on Friday, reaching $77.58. The company had a trading volume of 1,202,378 shares, compared to its average volume of 11,544,669. The stock has a market capitalization of $116.32 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.86 and a beta of 1.02. The firm’s 50 day moving average price is $82.24 and its 200 day moving average price is $84.61. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the firm posted $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities analysts predict that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on NKE shares. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Morgan Stanley lifted their price objective on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Telsey Advisory Group dropped their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.56.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

NIKE 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.