Nike Inc (NKE) Stake Lessened by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lowered its position in shares of Nike Inc (NYSE:NKE) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,148 shares of the footwear maker’s stock after selling 2,900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Nike were worth $8,939,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tiemann Investment Advisors LLC grew its position in Nike by 2.4% in the fourth quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock worth $402,000 after acquiring an additional 125 shares in the last quarter. Capital Insight Partners LLC boosted its holdings in shares of Nike by 0.7% during the 1st quarter. Capital Insight Partners LLC now owns 17,819 shares of the footwear maker’s stock worth $1,501,000 after buying an additional 126 shares during the period. Baystate Wealth Management LLC boosted its holdings in shares of Nike by 5.8% during the 4th quarter. Baystate Wealth Management LLC now owns 2,304 shares of the footwear maker’s stock worth $185,000 after buying an additional 127 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of Nike by 18.4% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 900 shares of the footwear maker’s stock worth $76,000 after buying an additional 140 shares during the period. Finally, Lee Danner & Bass Inc. boosted its holdings in shares of Nike by 2.9% during the 4th quarter. Lee Danner & Bass Inc. now owns 5,071 shares of the footwear maker’s stock worth $376,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 65.62% of the company’s stock.

Several research firms recently issued reports on NKE. Bank of America upped their price objective on shares of Nike from $55.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, March 19th. Credit Suisse Group reaffirmed a “buy” rating and set a $97.00 price objective on shares of Nike in a report on Friday, March 22nd. JPMorgan Chase & Co. upped their price objective on shares of Nike from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Goldman Sachs Group set a $85.00 price objective on shares of Nike and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Finally, Canaccord Genuity set a $96.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Monday, March 18th. Two 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. Nike currently has a consensus rating of “Buy” and an average target price of $87.10.

Shares of NKE stock opened at $89.20 on Monday. Nike Inc has a 52-week low of $64.99 and a 52-week high of $90.00. The firm has a market capitalization of $140.20 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 2.68 and a beta of 0.67. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.78%. The company had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The business’s revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Nike Inc will post 2.55 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, March 1st. Nike’s dividend payout ratio is 36.36%.

In related news, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total transaction of $1,455,465.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $82.00, for a total transaction of $12,300,000.00. Following the sale, the chairman now owns 1,539,963 shares of the company’s stock, valued at approximately $126,276,966. The disclosure for this sale can be found here. In the last 90 days, insiders sold 316,504 shares of company stock valued at $26,620,816. Corporate insiders own 3.90% of the company’s stock.

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About Nike

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.

Further Reading: Depreciation

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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