Teacher Retirement System of Texas lowered its stake in shares of Nike Inc. (NYSE:NKE) by 49.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 512,621 shares of the footwear maker’s stock after selling 503,693 shares during the period. Teacher Retirement System of Texas’ holdings in Nike were worth $28,297,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock valued at $2,265,096,000 after buying an additional 204,944 shares during the period. Wellington Management Group LLP boosted its stake in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Nike by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 13,141,313 shares of the footwear maker’s stock valued at $725,254,000 after buying an additional 619,253 shares during the period. BlackRock Group LTD boosted its stake in shares of Nike by 1.5% in the first quarter. BlackRock Group LTD now owns 11,814,496 shares of the footwear maker’s stock valued at $726,236,000 after buying an additional 177,028 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Nike by 5.7% in the first quarter. Geode Capital Management LLC now owns 11,593,721 shares of the footwear maker’s stock valued at $711,300,000 after buying an additional 628,853 shares during the period. 62.04% of the stock is currently owned by institutional investors and hedge funds.

Nike Inc. (NYSE:NKE) traded down 0.02% during mid-day trading on Wednesday, hitting $54.86. The stock had a trading volume of 4,195,859 shares. The company has a market cap of $92.03 billion, a price-to-earnings ratio of 25.40 and a beta of 0.52. Nike Inc. has a one year low of $51.48 and a one year high of $68.19. The company has a 50 day moving average price of $56.80 and a 200-day moving average price of $57.48.

Nike (NYSE:NKE) last announced its earnings results on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. Nike had a net margin of 11.61% and a return on equity of 29.57%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.28 billion. During the same quarter last year, the business earned $0.49 earnings per share. Nike’s revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that Nike Inc. will post $2.40 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. Nike’s dividend payout ratio (DPR) is currently 29.63%.

NKE has been the topic of several recent research reports. B. Riley reaffirmed a “buy” rating and set a $66.00 target price on shares of Nike in a research report on Monday, June 27th. Susquehanna reissued a “positive” rating and issued a $74.00 price objective on shares of Nike in a research report on Wednesday, June 22nd. Cowen and Company reissued a “buy” rating on shares of Nike in a research report on Wednesday, June 22nd. Piper Jaffray Cos. reissued an “overweight” rating and issued a $58.00 price objective (down previously from $69.00) on shares of Nike in a research report on Wednesday, June 29th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Nike in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $65.63.

In other news, Director John C. Lechleiter bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were purchased at an average price of $55.09 per share, for a total transaction of $55,090.00. Following the completion of the transaction, the director now owns 23,682 shares in the company, valued at $1,304,641.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the sale, the executive vice president now owns 231,861 shares in the company, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.

5 Day Chart for NYSE:NKE

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