Illinois Municipal Retirement Fund Has $13.56 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Illinois Municipal Retirement Fund increased its position in shares of NIKE, Inc. (NYSE:NKE) by 10.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,880 shares of the footwear maker’s stock after purchasing an additional 11,823 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in NIKE were worth $13,558,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NKE. Impact Partnership Wealth LLC boosted its stake in shares of NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares during the last quarter. Iron Horse Wealth Management LLC boosted its stake in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new position in NIKE during the 4th quarter worth approximately $29,000. Raleigh Capital Management Inc. boosted its stake in NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after acquiring an additional 216 shares during the last quarter. Finally, Stephens Consulting LLC boosted its stake in NIKE by 160.0% during the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after acquiring an additional 240 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.3 %

Shares of NIKE stock traded up $0.27 on Tuesday, hitting $94.46. The stock had a trading volume of 2,856,581 shares, compared to its average volume of 9,510,963. The stock has a 50 day moving average of $97.85 and a 200 day moving average of $103.46. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a market capitalization of $142.57 billion, a P/E ratio of 27.84, a PEG ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $12.28 billion. Sell-side analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is presently 43.53%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of NIKE in a research note on Wednesday, March 27th. Oppenheimer lowered shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target on the stock. in a research note on Friday, February 16th. Morgan Stanley cut their price target on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Finally, UBS Group cut their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $116.26.

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.