South Dakota Investment Council Lowers Stock Holdings in NIKE, Inc. $NKE

South Dakota Investment Council reduced its position in NIKE, Inc. (NYSE:NKE) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,122 shares of the footwear maker’s stock after selling 3,600 shares during the quarter. South Dakota Investment Council’s holdings in NIKE were worth $6,331,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NKE. Goldman Sachs Group Inc. increased its stake in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the period. Wellington Management Group LLP boosted its position in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the period. Jennison Associates LLC acquired a new position in shares of NIKE in the first quarter worth $509,051,000. Nuveen LLC acquired a new position in shares of NIKE in the first quarter worth $502,285,000. Finally, Vanguard Group Inc. increased its position in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research note on Monday, September 29th. Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. BTIG Research assumed coverage on shares of NIKE in a report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Barclays set a $70.00 price target on shares of NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $82.21.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $64.59 on Monday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The firm’s 50 day moving average is $71.29 and its two-hundred day moving average is $68.41. The firm has a market capitalization of $95.48 billion, a P/E ratio of 33.12, a P/E/G ratio of 2.41 and a beta of 1.29.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 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.