Maryland State Retirement & Pension System Purchases 958 Shares of NIKE, Inc. $NKE

Maryland State Retirement & Pension System increased its position in NIKE, Inc. (NYSE:NKE) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,237 shares of the footwear maker’s stock after purchasing an additional 958 shares during the period. Maryland State Retirement & Pension System’s holdings in NIKE were worth $3,995,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NKE. Stone House Investment Management LLC bought a new position in NIKE in the 1st quarter worth about $25,000. Mascoma Wealth Management LLC bought a new position in NIKE in the 2nd quarter worth about $26,000. Halbert Hargrove Global Advisors LLC boosted its stake in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares in the last quarter. Saudi Central Bank bought a new position in NIKE in the 1st quarter worth about $30,000. Finally, Matrix Trust Co raised its position in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Piper Sandler set a $84.00 target price on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group set a $85.00 target price on NIKE and gave the stock a “buy” rating in a research report on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $81.57.

NIKE Price Performance

NYSE NKE opened at $68.09 on Friday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The firm has a market capitalization of $100.56 billion, a P/E ratio of 34.92, a PEG ratio of 2.52 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $73.99 and a 200-day moving average price of $67.29.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. NIKE’s dividend payout ratio is presently 82.05%.

Insider Activity

In other news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,378 shares of company stock valued at $14,794,264 in the last ninety days. Insiders own 0.80% of the company’s stock.

About NIKE

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.