State Board of Administration of Florida Retirement System Sells 18,568 Shares of Nike, Inc. (NKE)

State Board of Administration of Florida Retirement System reduced its stake in shares of Nike, Inc. (NYSE:NKE) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,900,487 shares of the footwear maker’s stock after selling 18,568 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Nike were worth $105,914,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Confluence Wealth Management LLC raised its position in Nike by 6.5% in the fourth quarter. Confluence Wealth Management LLC now owns 28,612 shares of the footwear maker’s stock valued at $1,454,000 after buying an additional 1,734 shares during the last quarter. ING Groep NV raised its position in Nike by 21.1% in the fourth quarter. ING Groep NV now owns 312,552 shares of the footwear maker’s stock valued at $15,959,000 after buying an additional 54,412 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC raised its position in Nike by 4.1% in the fourth quarter. Sullivan Bruyette Speros & Blaney LLC now owns 5,987 shares of the footwear maker’s stock valued at $304,000 after buying an additional 234 shares during the last quarter. JNBA Financial Advisors raised its position in Nike by 139.8% in the fourth quarter. JNBA Financial Advisors now owns 5,735 shares of the footwear maker’s stock valued at $292,000 after buying an additional 3,343 shares during the last quarter. Finally, Harfst & Associates Inc. raised its position in Nike by 8.3% in the fourth quarter. Harfst & Associates Inc. now owns 6,762 shares of the footwear maker’s stock valued at $343,000 after buying an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 65.55% of the company’s stock.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Nike, Inc. (NKE) opened at 52.02 on Tuesday. Nike, Inc. has a one year low of $49.01 and a one year high of $60.33. The company has a market capitalization of $85.87 billion, a price-to-earnings ratio of 21.70 and a beta of 0.47. The company has a 50-day moving average price of $53.24 and a 200-day moving average price of $54.21.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.15. Nike had a net margin of 12.02% and a return on equity of 32.97%. The company had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. Nike’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Nike, Inc. will post $2.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Monday, June 5th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 1st. Nike’s dividend payout ratio (DPR) is presently 30.00%.

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A number of research firms have issued reports on NKE. Jefferies Group LLC reissued a “buy” rating and set a $75.00 price target on shares of Nike in a research report on Wednesday, March 22nd. Deutsche Bank AG lowered their price target on Nike from $66.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, March 22nd. Wedbush reissued a “neutral” rating and set a $52.00 price target on shares of Nike in a research report on Wednesday, March 22nd. Stifel Nicolaus lowered their price target on Nike from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, March 22nd. Finally, Goldman Sachs Group, Inc. (The) boosted their price target on Nike from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, March 22nd. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $60.74.

In related news, CAO Hilary K. Krane sold 65,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $56.00, for a total value of $3,640,000.00. Following the completion of the transaction, the chief accounting officer now owns 270,795 shares in the company, valued at approximately $15,164,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $55.67, for a total transaction of $2,783,500.00. Following the completion of the transaction, the insider now owns 300,108 shares of the company’s stock, valued at approximately $16,707,012.36. The disclosure for this sale can be found here. Insiders sold a total of 379,000 shares of company stock valued at $21,213,800 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NKE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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