Illinois Municipal Retirement Fund Has $18.84 Million Stock Position in NIKE, Inc. $NKE

Illinois Municipal Retirement Fund reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 14.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 270,168 shares of the footwear maker’s stock after selling 44,772 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in NIKE were worth $18,839,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new stake in shares of NIKE during the second quarter worth approximately $31,000. Guerra Advisors Inc bought a new stake in shares of NIKE during the 3rd quarter valued at $34,000. NewSquare Capital LLC lifted its stake in shares of NIKE by 54.4% in the 2nd quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock valued at $52,000 after purchasing an additional 258 shares during the period. Field & Main Bank lifted its stake in shares of NIKE by 36.4% in the 2nd quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock valued at $53,000 after purchasing an additional 200 shares during the period. Finally, Financial Consulate Inc. bought a new position in shares of NIKE in the 3rd quarter worth $57,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 1.1%

Shares of NKE stock opened at $62.37 on Thursday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average of $63.69 and a 200-day moving average of $68.01. The company has a market capitalization of $92.33 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 3.23 and a beta of 1.27.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. During the same period in the prior year, the business earned $0.78 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $0.41 per share. This is an increase from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.6%. NIKE’s payout ratio is currently 96.47%.

Analysts Set New Price Targets

Several research firms have weighed in on NKE. Barclays reissued a “neutral” rating on shares of NIKE in a research note on Thursday, January 15th. Sanford C. Bernstein reiterated a “buy” rating and issued a $85.00 price target on shares of NIKE in a research report on Tuesday, January 6th. Berenberg Bank restated a “neutral” rating and set a $70.00 price objective on shares of NIKE in a report on Friday, December 19th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of NIKE in a research note on Wednesday, January 21st. Finally, BNP Paribas Exane reduced their price target on shares of NIKE from $38.00 to $35.00 and set an “underperform” rating on the stock in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.61.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,691 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was bought at an average cost of $57.54 per share, with a total value of $500,080.14. Following the purchase, the director directly owned 43,293 shares of the company’s stock, valued at $2,491,079.22. The trade was a 25.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the sale, the chairman directly owned 647,615 shares in the company, valued at approximately $41,965,452. This represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders purchased 75,079 shares of company stock valued at $4,449,887 over the last quarter. Insiders own 0.80% of the company’s stock.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).