Texas Permanent School Fund Corp Decreases Position in NIKE, Inc. (NYSE:NKE)

Texas Permanent School Fund Corp lessened its holdings in NIKE, Inc. (NYSE:NKE) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 251,627 shares of the footwear maker’s stock after selling 1,110 shares during the period. 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 and other institutional investors also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its position in shares of NIKE by 8.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 35,165 shares of the footwear maker’s stock worth $3,305,000 after purchasing an additional 2,604 shares during the last quarter. FDx Advisors Inc. lifted its position in NIKE by 7.0% in the first quarter. FDx Advisors Inc. now owns 24,717 shares of the footwear maker’s stock valued at $2,323,000 after acquiring an additional 1,612 shares during the last quarter. Catalina Capital Group LLC purchased a new stake in NIKE in the first quarter valued at $209,000. Avidian Wealth Solutions LLC lifted its position in NIKE by 8.3% in the first quarter. Avidian Wealth Solutions LLC now owns 6,253 shares of the footwear maker’s stock valued at $588,000 after acquiring an additional 479 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in NIKE in the first quarter valued at $52,207,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 1.2 %

NKE stock traded up $0.84 during mid-day trading on Thursday, hitting $73.38. 15,843,352 shares of the company were exchanged, compared to its average volume of 11,168,768. NIKE, Inc. has a twelve month low of $71.67 and a twelve month high of $123.39. The firm has a fifty day simple moving average of $90.27 and a 200 day simple moving average of $96.47. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $110.76 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. On average, research analysts forecast that NIKE, Inc. will post 3.17 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NKE shares. HSBC reduced their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Sanford C. Bernstein reduced their price target on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. UBS Group restated a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a research note on Friday, June 28th. Piper Sandler dropped their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Finally, Raymond James restated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Hold” and a consensus price target of $97.19.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at $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 news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by corporate insiders.

About NIKE

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.