NIKE, Inc. (NYSE:NKE) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 251,627 shares of the footwear maker’s stock after selling 1,110 shares during the quarter. Texas Permanent School Fund Corp’s holdings in NIKE were worth $23,648,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Cim LLC purchased a new position in NIKE in the fourth quarter valued at about $14,275,000. TKG Advisors LLC purchased a new position in NIKE in the fourth quarter valued at about $1,012,000. Louisiana State Employees Retirement System purchased a new position in NIKE in the fourth quarter valued at about $8,034,000. Brown Advisory Inc. increased its position in shares of NIKE by 4.3% during the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after acquiring an additional 192,752 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after acquiring an additional 384,357 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NKE. Barclays downgraded NIKE from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. Bank of America decreased their target price on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Oppenheimer restated an “outperform” rating and issued a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. Finally, The Goldman Sachs Group decreased their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.19.

NIKE Trading Up 1.2 %

NYSE NKE traded up $0.84 on Thursday, hitting $73.38. 15,843,352 shares of the stock were exchanged, compared to its average volume of 11,168,768. NIKE, Inc. has a 52-week low of $71.67 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a market capitalization of $110.76 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 1.87 and a beta of 1.01. The company’s 50-day moving average price is $90.27 and its two-hundred day moving average price is $96.47.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the company posted $0.66 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity

In related news, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock worth $19,946,333 in the last ninety days. Corporate insiders own 0.50% 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.