Employees Retirement System of Texas Acquires Shares of 17,332 NIKE, Inc. (NYSE:NKE)

Employees Retirement System of Texas bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 17,332 shares of the footwear maker's stock, valued at approximately $1,312,000.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in NIKE by 107.3% during the 4th quarter. SG Americas Securities LLC now owns 22,082 shares of the footwear maker's stock valued at $1,671,000 after acquiring an additional 322,969 shares in the last quarter. Brighton Jones LLC boosted its position in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. RFG Advisory LLC boosted its position in NIKE by 207.1% during the fourth quarter. RFG Advisory LLC now owns 8,735 shares of the footwear maker's stock valued at $661,000 after purchasing an additional 5,891 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in NIKE by 9.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 30,787 shares of the footwear maker's stock valued at $2,330,000 after purchasing an additional 2,646 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in NIKE by 7.5% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 20,737 shares of the footwear maker's stock valued at $1,569,000 after purchasing an additional 1,449 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on NKE. Royal Bank of Canada decreased their price target on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. Needham & Company LLC decreased their target price on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Berenberg Bank initiated coverage on shares of NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price for the company. Citigroup reduced their price target on NIKE from $72.00 to $57.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Williams Trading lowered their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $80.26.

NIKE Stock Performance

NKE stock traded down $0.92 during trading on Friday, hitting $60.52. 18,145,753 shares of the company traded hands, compared to its average volume of 15,031,109. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a market cap of $89.52 billion, a PE ratio of 18.68, a P/E/G ratio of 2.52 and a beta of 1.23. The stock's 50-day simple moving average is $59.08 and its 200 day simple moving average is $69.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business's quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.64%. NIKE's dividend payout ratio (DPR) is currently 53.16%.

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.