California Public Employees Retirement System Buys 91,287 Shares of NIKE, Inc. $NKE

California Public Employees Retirement System grew its stake in NIKE, Inc. (NYSE:NKE) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,295,664 shares of the footwear maker’s stock after buying an additional 91,287 shares during the period. California Public Employees Retirement System’s holdings in NIKE were worth $163,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in NKE. Mitchell Mcleod Pugh & Williams Inc. grew its position in NIKE by 1.0% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after buying an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. raised its holdings in NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after acquiring an additional 142 shares in the last quarter. Salomon & Ludwin LLC lifted its position in shares of NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after acquiring an additional 145 shares during the period. Westmount Partners LLC grew its holdings in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after purchasing an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC grew its holdings in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.3%

Shares of NIKE stock opened at $65.90 on Monday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The stock has a market capitalization of $97.41 billion, a P/E ratio of 33.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.28. The company has a 50-day simple moving average of $66.04 and a 200 day simple moving average of $69.22. 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 (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. The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. This is a positive change from NIKE’s previous quarterly dividend of $0.40. NIKE’s payout ratio is 84.10%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Sanford C. Bernstein restated a “buy” rating and issued a $90.00 target price on shares of NIKE in a research note on Monday, October 13th. Wells Fargo & Company raised shares of NIKE from a “sector perform” rating to an “overweight” rating in a report on Tuesday, December 2nd. Jefferies Financial Group restated a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research note on Monday, September 29th. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Finally, Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.24.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 16,150 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were acquired at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the acquisition, the director directly owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. The trade was a 308.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.

NIKE Company 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.