NIKE, Inc. (NYSE:NKE) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 774,760 shares of the footwear maker’s stock after purchasing an additional 63,458 shares during the period. Retirement Systems of Alabama owned about 0.05% of NIKE worth $84,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Iron Horse Wealth Management LLC increased its position in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. purchased a new stake in NIKE in the 4th quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. boosted its holdings in NIKE by 100.0% in the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 170 shares in the last quarter. NewSquare Capital LLC boosted its holdings in NIKE by 372.0% in the 4th quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 279 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its holdings in NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NKE shares. Barclays lowered their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Stifel Nicolaus lowered their price objective on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $113.00 in a report on Thursday, April 11th. Sanford C. Bernstein lowered their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, Piper Sandler lowered their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Trading Up 0.2 %

NKE traded up $0.18 during trading on Friday, hitting $94.12. The company’s stock had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. The stock has a market cap of $142.06 billion, a PE ratio of 27.68, a PEG ratio of 1.82 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm’s 50 day moving average price is $96.96 and its 200-day moving average price is $103.34. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68.

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

NIKE Announces Dividend

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

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.