Employees Retirement System of Texas lifted its holdings in shares of Nike Inc (NYSE:NKE) by 174.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,700 shares of the footwear maker’s stock after buying an additional 97,700 shares during the quarter. Employees Retirement System of Texas’ holdings in Nike were worth $11,395,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Gemmer Asset Management LLC increased its holdings in Nike by 54.2% during the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the period. Acima Private Wealth LLC bought a new stake in Nike during the 4th quarter worth approximately $39,000. Proffitt & Goodson Inc. bought a new stake in Nike during the 4th quarter worth approximately $44,000. Athena Capital Advisors LLC bought a new stake in Nike during the 4th quarter worth approximately $56,000. Finally, Ruggie Capital Group increased its holdings in Nike by 40.7% during the 4th quarter. Ruggie Capital Group now owns 805 shares of the footwear maker’s stock worth $60,000 after acquiring an additional 233 shares during the period. Institutional investors own 64.85% of the company’s stock.
Shares of NYSE:NKE opened at $86.80 on Friday. The firm has a market capitalization of $136.72 billion, a PE ratio of 35.87, a P/E/G ratio of 2.64 and a beta of 0.68. Nike Inc has a one year low of $63.21 and a one year high of $87.99. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14.
Nike (NYSE:NKE) last released its earnings results on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.06. Nike had a net margin of 5.66% and a return on equity of 44.85%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter last year, the firm earned $0.46 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts expect that Nike Inc will post 2.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 1st. Nike’s dividend payout ratio is currently 36.36%.
In related news, EVP John F. Slusher sold 200,000 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the transaction, the executive vice president now owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $82.00, for a total transaction of $12,300,000.00. Following the transaction, the chairman now directly owns 1,539,963 shares in the company, valued at approximately $126,276,966. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 800,000 shares of company stock worth $61,862,000. 3.90% of the stock is owned by insiders.
A number of analysts recently weighed in on NKE shares. Robert W. Baird reaffirmed a “buy” rating and set a $94.00 target price on shares of Nike in a report on Monday, November 19th. Wells Fargo & Co set a $82.00 target price on shares of Nike and gave the stock a “neutral” rating in a report on Monday, November 19th. Macquarie set a $98.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Tuesday, November 20th. Zacks Investment Research lowered shares of Nike from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $85.00 target price on shares of Nike in a report on Monday, December 3rd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Nike presently has a consensus rating of “Buy” and an average price target of $84.59.
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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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