Teachers Retirement System of The State of Kentucky Sells 17,186 Shares of Nike Inc (NYSE:NKE)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Nike Inc (NYSE:NKE) by 8.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,052 shares of the footwear maker’s stock after selling 17,186 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Nike were worth $18,929,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Glassman Wealth Services raised its position in Nike by 6.6% during the 2nd quarter. Glassman Wealth Services now owns 1,626 shares of the footwear maker’s stock valued at $159,000 after purchasing an additional 100 shares during the last quarter. Adirondack Trust Co. raised its position in shares of Nike by 1.9% in the 2nd quarter. Adirondack Trust Co. now owns 5,320 shares of the footwear maker’s stock worth $519,000 after acquiring an additional 100 shares in the last quarter. Capital Analysts LLC raised its position in shares of Nike by 8.0% in the 2nd quarter. Capital Analysts LLC now owns 1,410 shares of the footwear maker’s stock worth $138,000 after acquiring an additional 104 shares in the last quarter. Lafayette Investments Inc. raised its position in shares of Nike by 1.1% in the 2nd quarter. Lafayette Investments Inc. now owns 10,067 shares of the footwear maker’s stock worth $987,000 after acquiring an additional 108 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. raised its position in shares of Nike by 6.4% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,846 shares of the footwear maker’s stock worth $181,000 after acquiring an additional 111 shares in the last quarter. 64.20% of the stock is owned by institutional investors and hedge funds.

In other Nike news, insider Heidi O’neill sold 22,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $115.06, for a total transaction of $2,531,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $108.00, for a total value of $918,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,356 shares of company stock worth $14,962,435. Insiders own 3.80% of the company’s stock.

NKE has been the subject of several research reports. Pivotal Research reissued a “buy” rating and issued a $115.00 target price on shares of Nike in a research report on Tuesday, June 23rd. Goldman Sachs Group reissued a “buy” rating and issued a $115.00 target price on shares of Nike in a research report on Tuesday, August 18th. Robert W. Baird increased their target price on Nike from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Susquehanna Bancshares increased their target price on Nike from $130.00 to $150.00 and gave the stock a “positive” rating in a research report on Wednesday, August 19th. Finally, Morgan Stanley upped their price target on Nike from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the stock. Nike currently has a consensus rating of “Buy” and an average price target of $113.41.

Nike stock traded down $0.68 during trading on Wednesday, reaching $118.59. The company had a trading volume of 7,022,731 shares, compared to its average volume of 7,752,515. Nike Inc has a 52 week low of $60.00 and a 52 week high of $120.48. The firm’s 50-day simple moving average is $107.26 and its 200 day simple moving average is $94.68. The firm has a market capitalization of $186.06 billion, a price-to-earnings ratio of 75.32, a price-to-earnings-growth ratio of 3.13 and a beta of 0.83. The company has a current ratio of 2.48, a quick ratio of 1.59 and a debt-to-equity ratio of 1.17.

Nike (NYSE:NKE) last announced its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.53). The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $7.26 billion. Nike had a return on equity of 32.95% and a net margin of 6.79%. Nike’s revenue for the quarter was down 38.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. On average, analysts predict that Nike Inc will post 2.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $0.245 per share. The ex-dividend date is Friday, August 28th. This represents a $0.98 dividend on an annualized basis and a yield of 0.83%. Nike’s dividend payout ratio is presently 52.97%.

Nike Profile

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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