Strs Ohio Buys Shares of 304,489 NIKE, Inc. $NKE

Key Points

• Strs Ohio has acquired 304,489 shares of NIKE, Inc. valued at approximately $19.3 million in its latest 13F filing.
• NIKE reported a quarterly earnings per share (EPS) of $0.14, surpassing estimates, but its revenue fell 11.9% year-over-year to $11.10 billion.
• The company is set to pay a quarterly dividend of $0.40 per share on October 1st, with a yield of 2.2% and a payout ratio of 74.07%.

Strs Ohio bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 304,489 shares of the footwear maker's stock, valued at approximately $19,329,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Stone House Investment Management LLC purchased a new position in NIKE in the 1st quarter valued at about $25,000. Heck Capital Advisors LLC purchased a new position in NIKE in the 4th quarter valued at about $28,000. Saudi Central Bank purchased a new position in NIKE in the 1st quarter valued at about $30,000. Roxbury Financial LLC lifted its holdings in NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after purchasing an additional 201 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in NIKE in the 1st quarter worth about $37,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NIKE stock opened at $73.12 on Friday. The stock's 50 day moving average price is $75.40 and its 200 day moving average price is $67.81. The firm has a market capitalization of $107.98 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE's payout ratio is currently 74.07%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NKE. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, June 20th. Piper Sandler raised their price target on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Royal Bank Of Canada decreased their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Jefferies Financial Group reissued a "buy" rating and issued a $115.00 price target on shares of NIKE in a research note on Friday, August 22nd. Finally, The Goldman Sachs Group raised their price target on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $78.67.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by 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.

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