NIKE, Inc. (NYSE:NKE) Stake Lifted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in NIKE, Inc. (NYSE:NKE) by 28.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,133 shares of the footwear maker’s stock after purchasing an additional 35,253 shares during the period. Illinois Municipal Retirement Fund’s holdings in NIKE were worth $12,069,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC lifted its holdings 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 buying an additional 220 shares during the period. True Wealth Design LLC lifted its holdings in NIKE by 106.4% in the 4th 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 during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at about $33,000. Core Wealth Advisors Inc. boosted its position in shares of NIKE by 408.5% during 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 position in shares of NIKE in the 4th quarter worth approximately $36,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock opened at $80.63 on Friday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock’s 50-day moving average is $76.94 and its two-hundred day moving average is $88.68. 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 firm has a market cap of $121.70 billion, a P/E ratio of 21.62, a PEG ratio of 2.19 and a beta of 1.02.

NIKE (NYSE:NKE) last issued 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 firm had revenue of $12.60 billion for 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%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. Analysts predict that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.84%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research reports. BMO Capital Markets reduced their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. UBS Group reissued a “neutral” rating and set a $78.00 price objective on shares of NIKE in a research note on Friday, June 28th. Guggenheim decreased their target price on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.59.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% 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.