Texas Permanent School Fund Corp Has $5.88 Million Holdings in NIKE, Inc. $NKE

Texas Permanent School Fund Corp cut its position in NIKE, Inc. (NYSE:NKE) by 35.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 82,703 shares of the footwear maker’s stock after selling 46,275 shares during the period. Texas Permanent School Fund Corp’s holdings in NIKE were worth $5,875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in NIKE in the first quarter valued at approximately $226,000. Steward Partners Investment Advisory LLC lifted its position in shares of NIKE by 11.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 105,765 shares of the footwear maker’s stock valued at $6,714,000 after buying an additional 10,982 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of NIKE by 4.7% during the 1st quarter. Aptus Capital Advisors LLC now owns 23,676 shares of the footwear maker’s stock worth $1,503,000 after acquiring an additional 1,057 shares during the period. Finally, Colonial Trust Advisors increased its holdings in shares of NIKE by 6.3% during the 1st quarter. Colonial Trust Advisors now owns 112,958 shares of the footwear maker’s stock worth $7,171,000 after acquiring an additional 6,691 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research reports. Barclays set a $70.00 price target on NIKE and gave the company a “neutral” rating in a report on Wednesday, December 10th. Guggenheim raised shares of NIKE to a “strong-buy” rating in a research report on Wednesday, December 10th. Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. BTIG Research reiterated a “buy” rating and issued a $100.00 price target on shares of NIKE in a research note on Friday, December 12th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 price target on shares of NIKE in a report on Wednesday, December 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $81.24.

NIKE Price Performance

NYSE:NKE opened at $67.17 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm has a market cap of $99.28 billion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 2.39 and a beta of 1.29. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The firm’s 50-day simple moving average is $65.30 and its 200 day simple moving average is $69.47.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $0.41 per share. This is a boost from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. NIKE’s dividend payout ratio is 84.10%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the sale, the chairman directly owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This represents a 11.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.80% 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.