South Dakota Investment Council Raises Stock Position in NIKE, Inc. (NYSE:NKE)

South Dakota Investment Council lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,953 shares of the footwear maker’s stock after acquiring an additional 7,114 shares during the quarter. South Dakota Investment Council’s holdings in NIKE were worth $5,293,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Heck Capital Advisors LLC purchased a new position in NIKE during the fourth quarter valued at approximately $28,000. Caitlin John LLC increased its holdings in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the third quarter valued at approximately $30,000. Roxbury Financial LLC purchased a new position in NIKE during the fourth quarter valued at approximately $30,000. Finally, Bank of Jackson Hole Trust purchased a new position in NIKE during the fourth quarter valued at approximately $43,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on NKE. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. TD Cowen lowered their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Bank of America lowered their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $84.00 target price on shares of NIKE in a research note on Friday, February 7th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $88.62.

NIKE Trading Down 0.9 %

NYSE NKE opened at $76.50 on Monday. The company has a market capitalization of $113.15 billion, a PE ratio of 23.61, a P/E/G ratio of 2.52 and a beta of 1.01. The company has a fifty day moving average of $74.31 and a 200 day moving average of $78.16. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $106.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE Company 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.