Public Sector Pension Investment Board Acquires 4,500 Shares of NIKE, Inc. (NYSE:NKE)

Public Sector Pension Investment Board boosted its holdings in NIKE, Inc. (NYSE:NKE) by 9.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 51,000 shares of the footwear maker’s stock after purchasing an additional 4,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in NIKE were worth $4,508,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after acquiring an additional 571,544 shares during the last quarter. Fisher Asset Management LLC increased its position in NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in NIKE by 19.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock valued at $637,352,000 after purchasing an additional 1,184,252 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after buying an additional 6,507,856 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the subject of several recent research reports. Barclays dropped their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Robert W. Baird increased their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Wells Fargo & Company raised their target price on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Stifel Nicolaus cut their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.86.

NIKE Trading Up 0.5 %

Shares of NKE stock opened at $78.77 on Monday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a market capitalization of $118.10 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.91 and a beta of 1.03. The firm has a 50-day moving average price of $80.18 and a 200 day moving average price of $82.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is presently 42.41%.

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.