State of Tennessee Department of Treasury Sells 73,647 Shares of NIKE, Inc. (NYSE:NKE)

State of Tennessee Department of Treasury lessened its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 391,782 shares of the footwear maker's stock after selling 73,647 shares during the period. State of Tennessee Department of Treasury's holdings in NIKE were worth $29,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NKE. Range Financial Group LLC purchased a new stake in NIKE during the fourth quarter valued at about $642,000. Cacti Asset Management LLC purchased a new position in NIKE in the 4th quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in shares of NIKE during the fourth quarter worth $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker's stock worth $1,955,000 after acquiring an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC grew its position in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker's stock valued at $654,000 after purchasing an additional 8,504 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 1.4 %

Shares of NIKE stock traded down $0.82 on Friday, reaching $57.66. The company's stock had a trading volume of 17,123,218 shares, compared to its average volume of 14,357,070. The company has a market capitalization of $85.29 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 2.52 and a beta of 1.15. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The firm's fifty day simple moving average is $67.15 and its two-hundred day simple moving average is $73.17.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. Equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.77%. NIKE's payout ratio is 53.16%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NKE. Royal Bank of Canada reduced their target price on NIKE from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Friday, March 21st. Needham & Company LLC reduced their price target on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Williams Trading dropped their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday. Bank of America reduced their target price on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday. Finally, Berenberg Bank assumed coverage on NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price target on the stock. Sixteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $82.81.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92 % 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. Also, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

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.