Employees Retirement System of Texas Invests $1.31 Million in NIKE, Inc. (NYSE:NKE)

Employees Retirement System of Texas acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,332 shares of the footwear maker’s stock, valued at approximately $1,312,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC lifted its position in NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after acquiring an additional 347,178 shares in the last quarter. Bank of New York Mellon Corp lifted its position in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares in the last quarter. Norges Bank purchased a new stake in NIKE during the 4th quarter valued at $1,126,288,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of NIKE by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,205,753 shares of the footwear maker’s stock worth $696,599,000 after purchasing an additional 603,219 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. Needham & Company LLC dropped their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Bank of America dropped their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Finally, Barclays cut their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

NIKE Trading Down 2.9 %

Shares of NIKE stock opened at $55.62 on Tuesday. NIKE, Inc. has a fifty-two week low of $52.50 and a fifty-two week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market capitalization of $82.26 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.52 and a beta of 1.15. The company has a fifty day moving average of $72.55 and a 200 day moving average of $76.09.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

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.