State of New Jersey Common Pension Fund D Has $28.46 Million Position in NIKE, Inc. $NKE

State of New Jersey Common Pension Fund D lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 400,571 shares of the footwear maker’s stock after selling 1,899 shares during the period. State of New Jersey Common Pension Fund D’s holdings in NIKE were worth $28,457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new position in NIKE during the first quarter valued at approximately $25,000. Mascoma Wealth Management LLC acquired a new position in NIKE during the second quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC grew its holdings in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank acquired a new position in NIKE during the first quarter valued at approximately $30,000. Finally, Matrix Trust Co grew its holdings in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NKE shares. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Sanford C. Bernstein reissued a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research report on Monday, October 13th. Truist Financial reissued a “buy” rating and issued a $85.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. increased their price objective on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction 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 directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

NIKE Stock Down 0.8%

Shares of NKE stock opened at $69.15 on Friday. The stock has a market cap of $102.22 billion, a P/E ratio of 35.46, a price-to-earnings-growth ratio of 2.57 and a beta of 1.29. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The stock has a fifty day moving average price of $72.38 and a 200 day moving average price of $67.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is 82.05%.

NIKE Profile

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.