California Public Employees Retirement System Has $163.08 Million Position in NIKE, Inc. $NKE

California Public Employees Retirement System boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,295,664 shares of the footwear maker’s stock after purchasing an additional 91,287 shares during the period. California Public Employees Retirement System owned about 0.16% of NIKE worth $163,084,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NKE. Brighton Jones LLC grew its holdings in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Savvy Advisors Inc. raised its holdings in shares of NIKE by 55.2% during the first quarter. Savvy Advisors Inc. now owns 4,706 shares of the footwear maker’s stock worth $299,000 after acquiring an additional 1,674 shares in the last quarter. Townsquare Capital LLC boosted its position in NIKE by 8.7% during the first quarter. Townsquare Capital LLC now owns 99,200 shares of the footwear maker’s stock valued at $6,297,000 after purchasing an additional 7,908 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in NIKE during the first quarter valued at $107,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in NIKE in the first quarter valued at about $226,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock 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 company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average price of $66.04 and a two-hundred day moving average price of $69.22. The stock has a market capitalization of $97.41 billion, a P/E ratio of 33.79, a PEG ratio of 2.31 and a beta of 1.28.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

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

Wall Street Analysts Forecast Growth

NKE has been the topic of several research reports. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Piper Sandler set a $84.00 price objective on NIKE and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $75.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $82.24.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the sale, the chairman directly owned 647,615 shares in the company, valued at approximately $41,965,452. This represents a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.80% 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.