California State Teachers Retirement System reduced its stake in shares of Nike Inc (NYSE:NKE) by 1.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,225,085 shares of the footwear maker’s stock after selling 38,841 shares during the quarter. California State Teachers Retirement System’s holdings in Nike were worth $187,374,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of NKE. Vanguard Group Inc grew its position in shares of Nike by 1.2% in the third quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock valued at $8,698,227,000 after purchasing an additional 1,207,986 shares during the last quarter. BlackRock Inc. grew its position in shares of Nike by 4.3% in the fourth quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock valued at $6,395,928,000 after purchasing an additional 3,592,186 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Nike by 6,517.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after purchasing an additional 34,749,961 shares during the last quarter. Northern Trust Corp grew its position in shares of Nike by 2.4% in the fourth quarter. Northern Trust Corp now owns 20,985,790 shares of the footwear maker’s stock valued at $1,555,886,000 after purchasing an additional 491,974 shares during the last quarter. Finally, FMR LLC grew its position in shares of Nike by 10.2% in the fourth quarter. FMR LLC now owns 18,168,787 shares of the footwear maker’s stock valued at $1,347,034,000 after purchasing an additional 1,689,091 shares during the last quarter. Institutional investors own 65.70% of the company’s stock.
In other news, EVP John F. Slusher sold 110,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $85.02, for a total value of $9,352,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric D. Sprunk sold 40,004 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total transaction of $3,513,151.28. The disclosure for this sale can be found here. In the last three months, insiders sold 166,504 shares of company stock worth $14,320,816. Insiders own 3.90% of the company’s stock.
Shares of NKE stock opened at $82.63 on Thursday. Nike Inc has a 52 week low of $66.53 and a 52 week high of $90.00. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $129.80 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.76.
Nike (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.78%. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Nike Inc will post 2.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Friday, May 31st. Nike’s dividend payout ratio is presently 36.36%.
Several analysts have recently commented on NKE shares. Morgan Stanley set a $103.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Friday, March 22nd. Cowen set a $90.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Friday, March 22nd. Nomura upped their price objective on shares of Nike from $85.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Credit Suisse Group reissued a “buy” rating and set a $97.00 price objective on shares of Nike in a research note on Friday, March 22nd. Finally, Canaccord Genuity set a $96.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $87.39.
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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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