New Mexico Educational Retirement Board Sells 2,000 Shares of NIKE, Inc. (NYSE:NKE)

New Mexico Educational Retirement Board trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 57,248 shares of the footwear maker’s stock after selling 2,000 shares during the period. New Mexico Educational Retirement Board’s holdings in NIKE were worth $4,332,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares during the period. Wellington Management Group LLP lifted its holdings in shares of NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares during the period. Geode Capital Management LLC lifted its holdings in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after purchasing an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in NIKE by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock opened at $73.02 on Friday. The company’s fifty day simple moving average is $74.58 and its 200-day simple moving average is $78.00. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $108.00 billion, a PE ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $107.34.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Truist Financial cut their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday. BMO Capital Markets lifted their price target on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $88.62.

NIKE Company Profile

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.