Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 18.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 240,791 shares of the footwear maker’s stock after selling 53,740 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in NIKE were worth $22,629,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in NIKE in the 4th quarter worth approximately $1,315,097,000. Price T Rowe Associates Inc. MD grew its position in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Capital International Investors grew its position in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD bought a new stake in NIKE in the 1st quarter worth approximately $533,533,000. Finally, Capital World Investors grew its position in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE NKE traded up $0.16 during mid-day trading on Friday, hitting $74.01. 11,526,628 shares of the company’s stock traded hands, compared to its average volume of 15,949,355. The company’s 50-day moving average is $83.71 and its two-hundred day moving average is $92.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a market capitalization of $111.71 billion, a P/E ratio of 19.84, a PEG ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a 1 year low of $70.91 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. On average, equities analysts anticipate that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 2.00%. NIKE’s payout ratio is 39.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NKE shares. Telsey Advisory Group cut their target price on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Wells Fargo & Company cut their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Royal Bank of Canada cut their price objective on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. KeyCorp reissued a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Finally, StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.30.

Insider Activity at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 323,660 shares of company stock worth $27,973,033. Insiders own 0.50% 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.