State of Alaska Department of Revenue Reduces Position in NIKE, Inc. (NYSE:NKE)

State of Alaska Department of Revenue decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.0% in the fourth quarter, HoldingsChannel reports. The fund owned 135,755 shares of the footwear maker’s stock after selling 18,565 shares during the quarter. State of Alaska Department of Revenue’s holdings in NIKE were worth $10,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of NKE. Range Financial Group LLC bought a new position in shares of NIKE in the fourth quarter worth about $642,000. Cacti Asset Management LLC purchased a new stake in NIKE in the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd bought a new stake in NIKE during the 4th quarter worth approximately $5,384,000. FNY Investment Advisers LLC lifted its holdings in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares in the last quarter. Finally, Eagle Rock Investment Company LLC boosted its position in shares of NIKE by 49.2% in the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock worth $4,589,000 after purchasing an additional 19,991 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $71.75 on Friday. The company has a market capitalization of $106.13 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.50 and a beta of 1.01. The company’s 50-day simple moving average is $75.45 and its two-hundred day simple moving average is $78.10. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the business posted $1.03 EPS. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

NKE has been the subject of several recent analyst reports. Robert W. Baird dropped their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Bank of America reduced their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company reduced their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Barclays cut their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Royal Bank of Canada decreased their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Company 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.