State of New Jersey Common Pension Fund D Has $32.98 Million Stake in NIKE, Inc. (NYSE:NKE)

State of New Jersey Common Pension Fund D trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 435,787 shares of the footwear maker’s stock after selling 13,138 shares during the period. State of New Jersey Common Pension Fund D’s holdings in NIKE were worth $32,976,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new stake in NIKE during the 4th quarter worth approximately $28,000. Caitlin John LLC increased its position in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE during the third quarter worth $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the fourth quarter valued at about $30,000. Finally, Dunhill Financial LLC grew its stake in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE stock opened at $73.02 on Monday. The business’s 50-day moving average price is $74.46 and its 200-day moving average price is $78.03. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $107.34. The firm has a market capitalization of $108.00 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period last year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Analyst Upgrades and Downgrades

NKE has been the subject of several analyst reports. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Robert W. Baird cut their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Royal Bank of Canada lowered their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price objective on shares of NIKE in a report on Friday, February 7th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research report on Thursday, February 6th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

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.