NIKE, Inc. $NKE Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its stake in NIKE, Inc. (NYSE:NKE) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,820,698 shares of the footwear maker’s stock after selling 40,676 shares during the quarter. California State Teachers Retirement System’s holdings in NIKE were worth $96,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Main Street Financial Solutions LLC lifted its stake in NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after acquiring an additional 139 shares in the last quarter. Diligent Investors LLC increased its holdings in shares of NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after purchasing an additional 153 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of NIKE by 4.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 163 shares in the last quarter. Lakeshore Capital Group Inc. lifted its position in shares of NIKE by 2.9% in the fourth quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock worth $374,000 after purchasing an additional 165 shares in the last quarter. Finally, ANB Bank increased its stake in NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock valued at $1,621,000 after buying an additional 165 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NKE has been the topic of several research reports. UBS Group set a $48.00 target price on NIKE and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of NIKE in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of NIKE from $43.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, July 17th. DA Davidson lowered shares of NIKE from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. Finally, JPMorgan Chase & Co. cut their target price on NIKE from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Hold” and a consensus target price of $53.74.

Insider Transactions at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is currently owned by corporate insiders.

NIKE Trading Up 0.4%

Shares of NKE opened at $43.22 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The stock has a market cap of $64.12 billion, a PE ratio of 20.68, a PEG ratio of 1.91 and a beta of 1.12. NIKE, Inc. has a 1 year low of $40.00 and a 1 year high of $80.17. The stock has a 50 day simple moving average of $43.66 and a 200-day simple moving average of $50.59.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. On average, sell-side analysts predict that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s dividend payout ratio is 78.47%.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).