California Public Employees Retirement System Sells 83,295 Shares of NIKE, Inc. (NYSE:NKE)

California Public Employees Retirement System trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,185,377 shares of the footwear maker’s stock after selling 83,295 shares during the quarter. California Public Employees Retirement System owned 0.14% of NIKE worth $237,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NKE. Impact Partnership Wealth LLC increased its position in shares of NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 181 shares during the last quarter. Iron Horse Wealth Management LLC increased its position in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. purchased a new stake in NIKE in the fourth quarter worth $29,000. Raleigh Capital Management Inc. increased its position in NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after buying an additional 216 shares during the last quarter. Finally, Stephens Consulting LLC increased its position in NIKE by 160.0% in the third quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after buying an additional 240 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.18 during midday trading on Tuesday, hitting $94.37. The company had a trading volume of 1,647,441 shares, compared to its average volume of 9,493,688. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a market cap of $142.44 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.82 and a beta of 1.09. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68. The company has a fifty day moving average of $97.85 and a two-hundred day moving average of $103.46.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, equities research analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on NKE. Jefferies Financial Group decreased their target price on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Piper Sandler decreased their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. HSBC decreased their target price on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Evercore ISI reduced their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Finally, Oppenheimer cut NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target for the company. in a research report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

About NIKE

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.