New York State Teachers Retirement System Sells 78,362 Shares of NIKE, Inc. (NYSE:NKE)

New York State Teachers Retirement System lessened its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,024,869 shares of the footwear maker's stock after selling 78,362 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of NIKE worth $90,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC raised its position in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 200 shares in the last quarter. VitalStone Financial LLC raised its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker's stock valued at $39,000 after acquiring an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in NIKE during the second quarter valued at approximately $44,000. Finally, Riverview Trust Co acquired a new position in NIKE during the third quarter valued at approximately $52,000. Institutional investors own 64.25% of the company's stock.

NIKE Price Performance

Shares of NYSE:NKE traded down $0.92 during midday trading on Wednesday, reaching $77.48. The company's stock had a trading volume of 2,116,884 shares, compared to its average volume of 11,517,564. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a market capitalization of $116.17 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.90 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The business's fifty day simple moving average is $82.52 and its 200-day simple moving average is $84.72.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the company posted $0.94 earnings per share. The firm's quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities research analysts expect that NIKE, Inc. will post 2.76 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE's dividend payout ratio is 42.41%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank of Canada lowered their price target on NIKE from $85.00 to $82.00 and set a "sector perform" rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their price target on NIKE from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, October 2nd. Bank of America lowered their price target on NIKE from $104.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on shares of NIKE from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.56.

NIKE Company 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.

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