Retirement Systems of Alabama Raises Position in Nike Inc (NKE)
Retirement Systems of Alabama increased its position in Nike Inc (NYSE:NKE) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 976,956 shares of the footwear maker’s stock after buying an additional 76,890 shares during the quarter. Retirement Systems of Alabama’s holdings in Nike were worth $61,109,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. YorkBridge Wealth Partners LLC raised its position in shares of Nike by 0.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 26,169 shares of the footwear maker’s stock worth $1,535,000 after buying an additional 68 shares during the period. Keel Point LLC raised its position in Nike by 1.2% in the second quarter. Keel Point LLC now owns 9,757 shares of the footwear maker’s stock valued at $576,000 after purchasing an additional 119 shares during the period. Associated Banc Corp raised its position in Nike by 3.7% in the second quarter. Associated Banc Corp now owns 4,252 shares of the footwear maker’s stock valued at $251,000 after purchasing an additional 150 shares during the period. Israel Discount Bank of New York raised its position in Nike by 1.6% in the second quarter. Israel Discount Bank of New York now owns 13,932 shares of the footwear maker’s stock valued at $822,000 after purchasing an additional 215 shares during the period. Finally, Security National Bank of Sioux City Iowa IA raised its position in Nike by 0.6% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 43,462 shares of the footwear maker’s stock valued at $2,564,000 after purchasing an additional 250 shares during the period. 61.57% of the stock is currently owned by institutional investors and hedge funds.
Nike Inc (NKE) opened at $65.89 on Friday. The company has a market capitalization of $107,199.01, a PE ratio of 28.52, a P/E/G ratio of 2.98 and a beta of 0.68. Nike Inc has a 52 week low of $50.35 and a 52 week high of $70.25. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. Nike’s dividend payout ratio is currently 34.63%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at $114,641,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the transaction, the executive vice president now directly owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. Insiders sold 1,067,896 shares of company stock worth $69,044,217 in the last three months. 3.90% of the stock is currently owned by corporate insiders.
Several research analysts have commented on NKE shares. Citigroup reissued a “buy” rating and issued a $78.00 price objective (up from $74.00) on shares of Nike in a research report on Wednesday, January 31st. Susquehanna Bancshares reissued a “hold” rating and issued a $57.00 price objective on shares of Nike in a research report on Wednesday, December 13th. DA Davidson raised their price objective on Nike from $68.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, December 26th. Barclays set a $75.00 price objective on Nike and gave the company a “buy” rating in a research report on Tuesday, January 9th. Finally, Buckingham Research started coverage on Nike in a research report on Saturday, January 6th. They issued a “buy” rating and a $72.00 price objective on the stock. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $65.61.
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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.
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