NIKE, Inc. (NYSE:NKE) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 448,925 shares of the footwear maker’s stock after purchasing an additional 2,109 shares during the period. State of New Jersey Common Pension Fund D’s holdings in NIKE were worth $39,685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. Transcendent Capital Group LLC boosted its holdings in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC boosted its stake in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of NIKE in the 2nd quarter worth approximately $44,000. Finally, Riverview Trust Co acquired a new position in NIKE during the third quarter worth $52,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on NKE. Guggenheim lowered their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and upped their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Jefferies Financial Group raised their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Stock Down 0.1 %

NYSE NKE traded down $0.04 during mid-day trading on Friday, reaching $75.88. 8,140,788 shares of the company’s stock traded hands, compared to its average volume of 9,333,267. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a fifty day simple moving average of $81.39 and a 200-day simple moving average of $83.81. The company has a market cap of $113.77 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 1.83 and a beta of 1.03.

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

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was 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 in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

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.