Maryland State Retirement & Pension System Sells 300 Shares of NIKE, Inc. (NYSE:NKE)

Maryland State Retirement & Pension System reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,280 shares of the footwear maker’s stock after selling 300 shares during the quarter. Maryland State Retirement & Pension System’s holdings in NIKE were worth $8,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Iron Horse Wealth Management LLC raised its position in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Annapolis Financial Services LLC grew its stake in shares of NIKE by 440.0% in the first 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 in the last quarter. Planned Solutions Inc. acquired a new position in shares of NIKE in the fourth quarter valued at about $29,000. True Wealth Design LLC grew its stake in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Core Wealth Advisors Inc. grew its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Trading Up 0.4 %

Shares of NYSE:NKE traded up $0.27 during mid-day trading on Friday, hitting $75.51. The company had a trading volume of 3,166,503 shares, compared to its average volume of 10,681,384. The firm has a fifty day moving average price of $91.81 and a 200 day moving average price of $97.90. The company has a market capitalization of $113.97 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a one year low of $74.29 and a one year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, research analysts forecast that NIKE, Inc. will post 3.29 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. Truist Financial reduced their price objective on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. BMO Capital Markets reduced their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, TD Cowen reduced their price objective on shares of NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $97.19.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by company 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.