Illinois Municipal Retirement Fund Has $12.59 Million Stake in NIKE, Inc. $NKE

Illinois Municipal Retirement Fund reduced its position in NIKE, Inc. (NYSE:NKE) by 12.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 238,299 shares of the footwear maker’s stock after selling 35,004 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in NIKE were worth $12,587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. Brighton Jones LLC boosted its holdings in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of NIKE during the 1st quarter worth $311,000. United Bank raised its holdings in shares of NIKE by 11.3% during the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after buying an additional 1,736 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of NIKE by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after buying an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after buying an additional 11,646 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial decreased their target price on NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Bank of America dropped their target price on shares of NIKE from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Argus raised shares of NIKE to a “strong-buy” rating in a report on Wednesday. Finally, CICC Research cut shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Hold” and a consensus target price of $54.80.

NIKE Stock Performance

NYSE NKE opened at $44.49 on Friday. The company has a market capitalization of $65.89 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 2.47 and a beta of 1.12. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17. The stock has a fifty day simple moving average of $43.68 and a 200 day simple moving average of $51.91. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. Sell-side analysts expect that NIKE, Inc. will post 1.76 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, June 1st. NIKE’s dividend payout ratio (DPR) is 78.47%.

Insider Activity

In related news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.80% of the stock is owned by company insiders.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).