New York State Teachers Retirement System Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

New York State Teachers Retirement System cut its position in NIKE, Inc. (NYSE:NKE) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 966,039 shares of the footwear maker’s stock after selling 58,830 shares during the quarter. New York State Teachers Retirement System owned 0.07% of NIKE worth $73,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Range Financial Group LLC acquired a new stake in NIKE in the fourth quarter valued at $642,000. Cacti Asset Management LLC acquired a new stake in NIKE in the fourth quarter valued at $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in NIKE in the fourth quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after acquiring an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its holdings in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after acquiring an additional 8,504 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE opened at $73.25 on Friday. The firm has a market capitalization of $108.35 billion, a P/E ratio of 22.61, a PEG ratio of 2.34 and a beta of 1.01. The stock has a fifty day moving average of $74.68 and a 200-day moving average of $78.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.34.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. NIKE’s dividend payout ratio is 49.38%.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NKE. Robert W. Baird cut their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Morgan Stanley dropped their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.62.

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.