Louisiana State Employees Retirement System Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Louisiana State Employees Retirement System lowered its stake in NIKE, Inc. (NYSE:NKE) by 5.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,000 shares of the footwear maker’s stock after selling 3,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in NIKE were worth $4,843,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter worth about $28,000. Caitlin John LLC boosted its stake in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE during the 3rd quarter valued at approximately $30,000. Dunhill Financial LLC raised its position in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of NIKE in the third quarter worth $52,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on NKE. Evercore ISI cut their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. BMO Capital Markets raised their price objective on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Royal Bank of Canada dropped their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research note on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.62.

NIKE Stock Performance

Shares of NYSE NKE opened at $72.31 on Thursday. The company has a 50 day simple moving average of $74.80 and a two-hundred day simple moving average of $78.08. The stock has a market cap of $106.96 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.34 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $107.34.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the company posted $1.03 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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.