NIKE, Inc. (NYSE:NKE) Stock Holdings Lifted by Retirement Systems of Alabama

Retirement Systems of Alabama raised its stake in NIKE, Inc. (NYSE:NKE) by 8.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 774,760 shares of the footwear maker’s stock after acquiring an additional 63,458 shares during the period. Retirement Systems of Alabama’s holdings in NIKE were worth $84,116,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Excalibur Management Corp grew its stake in shares of NIKE by 1.9% during the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock valued at $492,000 after purchasing an additional 98 shares during the last quarter. Baxter Bros Inc. grew its stake in shares of NIKE by 2.0% during the third quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock valued at $482,000 after purchasing an additional 100 shares during the last quarter. First Pacific Financial grew its stake in shares of NIKE by 1.3% during the third quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock valued at $774,000 after purchasing an additional 100 shares during the last quarter. Jeppson Wealth Management LLC grew its stake in shares of NIKE by 4.5% during the third quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock valued at $221,000 after purchasing an additional 100 shares during the last quarter. Finally, Cairn Investment Group Inc. grew its stake in shares of NIKE by 4.2% during the third quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock valued at $239,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on NKE shares. Telsey Advisory Group decreased their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Piper Sandler cut their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. HSBC cut their price objective on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Morgan Stanley cut their target price on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Finally, The Goldman Sachs Group cut their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

NIKE stock traded up $0.18 during midday trading on Friday, hitting $94.12. The company’s stock had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a 50-day moving average price of $96.96 and a two-hundred day moving average price of $103.34. The company has a market cap of $142.06 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.82 and a beta of 1.08.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. As a group, sell-side analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is 43.53%.

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.