60,700 Shares in NIKE, Inc. $NKE Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in NIKE, Inc. (NYSE:NKE) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 60,700 shares of the footwear maker’s stock, valued at approximately $3,206,000.

Several other hedge funds have also modified their holdings of the stock. J. Stern & Co. LLP increased its stake in NIKE by 49,010.4% in the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after purchasing an additional 47,956,692 shares in the last quarter. Norges Bank acquired a new position in shares of NIKE in the fourth quarter worth about $829,956,000. Harris Associates L P purchased a new position in shares of NIKE in the second quarter worth approximately $621,525,000. Capital World Investors raised its holdings in shares of NIKE by 16.2% during the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares during the period. Finally, Jasper Ridge Partners L.P. raised its holdings in shares of NIKE by 2,492.4% during the fourth quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock valued at $311,111,000 after acquiring an additional 4,694,859 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE opened at $40.76 on Friday. The company has a market capitalization of $60.36 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. NIKE, Inc. has a one year low of $40.00 and a one year high of $80.17. The company’s fifty day moving average price is $44.19 and its 200 day moving average price is $53.96.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm’s revenue was up .1% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. As a group, analysts expect that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 4.0%. NIKE’s dividend payout ratio is presently 108.61%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NKE. Robert W. Baird reduced their price target on shares of NIKE from $85.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. The Goldman Sachs Group set a $46.00 target price on shares of NIKE and gave the company a “neutral” rating in a research note on Tuesday. Oppenheimer reduced their price target on shares of NIKE to $60.00 and set an “outperform” rating for the company in a research report on Friday. Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a research report on Wednesday. Finally, Guggenheim decreased their target price on shares of NIKE from $77.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Fourteen analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.01.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Oppenheimer lowered its price target to $60 but kept an outperform rating, signaling some analysts still see meaningful upside from current levels. Oppenheimer target update
• Positive Sentiment: Investors are also watching for any improvement from NIKE’s “Win Now” turnaround strategy and upcoming guidance, which could help support sentiment if management shows clearer progress. Nike fiscal Q4 preview
• Neutral Sentiment: NIKE is expected to report results after Tuesday’s close, and traders are bracing for a potentially large post-earnings move as attention centers on revenue trends, margins, and forward guidance. Investopedia earnings move preview
• Neutral Sentiment: Wall Street is closely focused on the new CFO transition, with investors waiting to see whether leadership changes help or hurt execution in the near term. Nike shares in focus as company names new CFO
• Negative Sentiment: KeyBanc turned more cautious, saying NIKE’s recovery is taking longer than expected amid slower turnaround progress and stronger competition from rivals. KeyBanc downgrade
• Negative Sentiment: Other coverage points to a “soft” quarter, with pressure from China weakness, tariffs, promotions, and operational uncertainty weighing on expectations ahead of earnings. Nike likely to report soft quarterly results
• Negative Sentiment: Stifel and Deutsche Bank also cut price targets, reinforcing a more cautious Street view before the report. Stifel target cut Deutsche Bank target cut

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 4,000 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were bought at an average cost of $43.34 per share, with a total value of $173,360.00. Following the transaction, the director directly owned 41,022 shares in the company, valued at approximately $1,777,893.48. This represents a 10.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy D. Cook purchased 25,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were acquired at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 64,441 shares of company stock worth $2,734,204. Insiders own 0.80% of the company’s stock.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).