State of New Jersey Common Pension Fund D Has $33.68 Million Position in NIKE, Inc. (NYSE:NKE)

State of New Jersey Common Pension Fund D lowered its holdings in NIKE, Inc. (NYSE:NKE) by 36.2% in the second quarter, Holdings Channel reports. The firm owned 446,816 shares of the footwear maker’s stock after selling 253,291 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NIKE were worth $33,677,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. True Wealth Design LLC lifted its position in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE during the 4th quarter worth approximately $33,000. Core Wealth Advisors Inc. boosted its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE in the fourth quarter valued at about $36,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NKE. Citigroup cut their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $79.00 price objective (down from $114.00) on shares of NIKE in a research note on Friday, June 28th. Wells Fargo & Company cut their target price on NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $83.00 price objective (down previously from $116.00) on shares of NIKE in a research note on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $95.59.

Insider Activity

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $78.40 on Friday. The business has a 50 day simple moving average of $77.16 and a two-hundred day simple moving average of $88.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock has a market capitalization of $118.33 billion, a P/E ratio of 21.02, a PEG ratio of 2.11 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. As a group, analysts predict that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

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.