Public Sector Pension Investment Board Reduces Position in Nike Inc (NKE)

Public Sector Pension Investment Board cut its position in shares of Nike Inc (NYSE:NKE) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,316 shares of the footwear maker’s stock after selling 7,100 shares during the period. Public Sector Pension Investment Board’s holdings in Nike were worth $15,011,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Clarius Group LLC purchased a new stake in shares of Nike during the fourth quarter worth approximately $111,000. First Command Bank purchased a new stake in shares of Nike during the fourth quarter worth approximately $128,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Nike during the third quarter worth approximately $130,000. Bank Hapoalim BM purchased a new stake in shares of Nike during the third quarter worth approximately $137,000. Finally, CWM LLC raised its stake in shares of Nike by 18.1% in the third quarter. CWM LLC now owns 2,631 shares of the footwear maker’s stock worth $139,000 after buying an additional 404 shares during the period. Institutional investors own 62.23% of the company’s stock.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Shares of Nike Inc (NYSE:NKE) opened at 57.80 on Monday. The company has a market capitalization of $95.63 billion, a PE ratio of 25.49 and a beta of 0.44. Nike Inc has a 1-year low of $49.01 and a 1-year high of $65.44. The firm’s 50-day moving average price is $55.95 and its 200 day moving average price is $53.43.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 6th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, March 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.25%. Nike’s payout ratio is currently 31.72%.

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A number of analysts have recently commented on NKE shares. DA Davidson restated a “buy” rating and issued a $66.00 price target on shares of Nike in a report on Friday, December 16th. HSBC Holdings plc raised Nike from a “hold” rating to a “buy” rating and lifted their target price for the company from $56.00 to $60.00 in a research report on Monday, December 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Nike in a research report on Tuesday, December 13th. Deutsche Bank AG set a $65.00 target price on Nike and gave the company a “buy” rating in a research report on Sunday, December 18th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $60.00 target price on shares of Nike in a research report on Monday, December 19th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.01.

In other news, EVP David J. Ayre sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $52.39, for a total transaction of $10,478,000.00. Following the completion of the sale, the executive vice president now owns 357,713 shares in the company, valued at approximately $18,740,584.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John F. Slusher sold 136,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $52.13, for a total transaction of $7,089,680.00. Following the sale, the executive vice president now owns 225,165 shares of the company’s stock, valued at approximately $11,737,851.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 636,000 shares of company stock valued at $33,477,680. 3.90% of the stock is currently owned by company insiders.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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