New York State Teachers Retirement System Sells 70,825 Shares of NIKE, Inc. (NYSE:NKE)

New York State Teachers Retirement System lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 895,214 shares of the footwear maker's stock after selling 70,825 shares during the period. New York State Teachers Retirement System owned approximately 0.06% of NIKE worth $56,828,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA boosted its position in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after buying an additional 210 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of NIKE during the fourth quarter valued at about $30,000. EnRich Financial Partners LLC lifted its stake in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after acquiring an additional 273 shares in the last quarter. Finally, Roxbury Financial LLC boosted its holdings in NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after purchasing an additional 201 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director directly owned 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company's stock.

NIKE Price Performance

Shares of NKE traded up $3.03 during mid-day trading on Wednesday, reaching $76.44. The company had a trading volume of 36,854,979 shares, compared to its average volume of 15,388,345. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company's 50-day moving average is $61.26 and its 200-day moving average is $67.44. The company has a market capitalization of $113.06 billion, a P/E ratio of 35.39, a P/E/G ratio of 2.65 and a beta of 1.25.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 53.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NKE shares. Citigroup upped their target price on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Morgan Stanley raised their price target on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Evercore ISI cut their target price on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. Berenberg Bank initiated coverage on NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target on the stock. Finally, China Renaissance began coverage on NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $77.19.

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.