Teacher Retirement System of Texas Reduces Stake in NIKE, Inc. (NYSE:NKE)

Teacher Retirement System of Texas lowered its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 56.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 277,033 shares of the footwear maker's stock after selling 365,303 shares during the quarter. Teacher Retirement System of Texas' holdings in NIKE were worth $17,586,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NKE. Brighton Jones LLC increased 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 worth $15,316,000 after buying an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after acquiring an additional 17,888 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of NIKE by 16.0% in the fourth quarter. Victory Capital Management Inc. now owns 868,260 shares of the footwear maker's stock worth $65,701,000 after acquiring an additional 119,874 shares in the last quarter. Assetmark Inc. lifted its stake in shares of NIKE by 22.3% in the fourth quarter. Assetmark Inc. now owns 105,156 shares of the footwear maker's stock worth $7,957,000 after acquiring an additional 19,151 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of NIKE by 6.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,634 shares of the footwear maker's stock worth $1,637,000 after acquiring an additional 1,299 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Down 0.1%

Shares of NKE opened at $76.28 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm has a market cap of $112.83 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 2.77 and a beta of 1.25. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The firm's 50-day simple moving average is $62.36 and its 200 day simple moving average is $67.49.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The firm 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 business's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Wall Street Analyst Weigh In

NKE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, June 20th. Stifel Nicolaus decreased their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, June 27th. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Finally, Robert W. Baird increased their price objective on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $77.19.

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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