Maryland State Retirement & Pension System Has $4.80 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Maryland State Retirement & Pension System trimmed its position in NIKE, Inc. (NYSE:NKE) by 8.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 63,472 shares of the footwear maker’s stock after selling 5,900 shares during the period. Maryland State Retirement & Pension System’s holdings in NIKE were worth $4,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Range Financial Group LLC bought a new stake in shares of NIKE during the fourth quarter worth approximately $642,000. Cacti Asset Management LLC acquired a new stake in NIKE during the 4th quarter worth $9,987,000. Capricorn Fund Managers Ltd bought a new stake in shares of NIKE during the 4th quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC boosted its position in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

NYSE:NKE opened at $72.92 on Thursday. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $101.92. The company has a market cap of $107.86 billion, a P/E ratio of 22.51, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock’s 50-day simple moving average is $74.76 and its 200 day simple moving average is $77.60.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share 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 firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on NKE shares. Truist Financial dropped their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Bank of America cut their price target 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. Robert W. Baird decreased their price objective 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. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Finally, BMO Capital Markets boosted their price target on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.54.

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.