New Mexico Educational Retirement Board Purchases 10,100 Shares of NIKE, Inc. (NYSE:NKE)

New Mexico Educational Retirement Board boosted its position in NIKE, Inc. (NYSE:NKE) by 15.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 74,248 shares of the footwear maker’s stock after acquiring an additional 10,100 shares during the period. New Mexico Educational Retirement Board’s holdings in NIKE were worth $6,978,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Foguth Wealth Management LLC. bought a new stake in shares of NIKE during the first quarter valued at about $468,000. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in shares of NIKE by 3.6% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,921 shares of the footwear maker’s stock valued at $1,120,000 after buying an additional 415 shares during the period. Coston McIsaac & Partners increased its position in shares of NIKE by 47.6% during the first quarter. Coston McIsaac & Partners now owns 4,075 shares of the footwear maker’s stock valued at $382,000 after buying an additional 1,315 shares during the period. Vicus Capital bought a new position in shares of NIKE in the first quarter worth approximately $393,000. Finally, Romano Brothers AND Company increased its position in shares of NIKE by 3.7% in the first quarter. Romano Brothers AND Company now owns 8,084 shares of the footwear maker’s stock worth $760,000 after purchasing an additional 286 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NKE has been the topic of several research analyst reports. Barclays cut shares of NIKE from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $109.00 to $80.00 in a research report on Friday. Wedbush cut their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday. Piper Sandler cut their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Robert W. Baird cut their target price on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Bank of America cut their target price on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $98.96.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. Insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock traded down $18.82 during trading on Friday, hitting $75.37. 129,966,982 shares of the company’s stock traded hands, compared to its average volume of 9,446,953. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 1 year low of $74.55 and a 1 year high of $123.39. The stock has a market capitalization of $113.76 billion, a P/E ratio of 20.21, a PEG ratio of 1.43 and a beta of 1.05. The business has a 50-day simple moving average of $93.28 and a 200-day simple moving average of $99.00.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. As a group, analysts forecast that NIKE, Inc. will post 3.9 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.96%. NIKE’s payout ratio is 39.68%.

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.