NIKE, Inc. $NKE Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 23.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 390,183 shares of the footwear maker’s stock after selling 122,197 shares during the period. TD Waterhouse Canada Inc.’s holdings in NIKE were worth $16,835,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of NKE. Scarborough Advisors LLC purchased a new stake in shares of NIKE in the 1st quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new position in NIKE in the 4th quarter valued at about $26,000. Sankala Group LLC acquired a new position in NIKE in the 4th quarter valued at about $26,000. Meeder Asset Management Inc. lifted its position in shares of NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 285 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in shares of NIKE in the fourth quarter valued at approximately $29,000. 64.25% of the stock is owned by institutional investors and hedge funds.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Analysts are bullish on Nike among selected consumer-cyclical companies, supporting the view that the stock’s depressed valuation could offer upside if the company executes its turnaround. Analysts Are Bullish on These Consumer Cyclical Stocks: Nike (NKE), Ferrari (RACE)
• Positive Sentiment: Nike is expanding its Strength Pro Equipment business with customizable Power Rack systems installed at prominent athletic facilities, including U.S. Soccer, USC and professional women’s sports venues. The initiative could deepen institutional relationships and create a broader growth opportunity beyond footwear and apparel. Nike’s Custom Power Racks Might Change The Case For Investing In NIKE (NKE)
• Neutral Sentiment: Some investment coverage describes Nike as potentially undervalued after its steep decline, while emphasizing that the opportunity depends on stabilizing margins and successfully improving the business. Recent earnings also showed an EPS beat and slightly stronger-than-expected revenue, although sales declined year over year. Down almost 80%, is Nike stock undervalued or a value trap?
• Neutral Sentiment: Broader market conditions could affect NKE: investors are focused on the August employment report because it may influence the Federal Reserve’s interest-rate decision later this month. Apparel and luxury-goods stock screens also continue to identify Nike as a company worth watching. 5 Things to Know Before the Stock Market Opens on Friday
• Negative Sentiment: Bearish commentary says Nike faces a difficult turnaround and that its current valuation may provide limited margin of safety, raising the risk that the stock is a value trap if profitability and demand do not recover. Nike: A Difficult Turnaround At A Price That Offers Little Margin of Safety
• Negative Sentiment: Nike is reportedly closing 11 U.S. stores, signaling continued efforts to rationalize its retail footprint and potentially reflecting weaker store economics or changing shopping patterns. Nike closes 11 stores across the US

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NKE shares. Guggenheim restated a “buy” rating and issued a $60.00 price objective (down from $74.00) on shares of NIKE in a report on Wednesday, July 1st. Berenberg Bank set a $49.00 target price on shares of NIKE and gave the stock a “hold” rating in a report on Friday, July 3rd. Robert W. Baird reissued an “outperform” rating and issued a $70.00 price target on shares of NIKE in a research report on Wednesday, July 1st. Rothschild & Co Redburn dropped their price target on shares of NIKE from $45.00 to $37.00 and set a “sell” rating for the company in a research note on Friday, July 17th. Finally, Piper Sandler reduced their price objective on NIKE from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.94.

Insider Activity

In related news, insider Amy Montagne sold 4,867 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $42.05, for a total value of $204,657.35. Following the transaction, the insider owned 57,436 shares of the company’s stock, valued at $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Venkatesh Alagirisamy sold 890 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $37,024.00. Following the completion of the sale, the chief operating officer owned 74,820 shares in the company, valued at approximately $3,112,512. This represents a 1.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 26,142 shares of company stock worth $1,169,380. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Down 1.0%

Shares of NYSE:NKE opened at $38.39 on Friday. The firm’s 50 day moving average price is $41.58 and its 200 day moving average price is $46.28. The stock has a market cap of $56.95 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10. NIKE, Inc. has a fifty-two week low of $37.95 and a fifty-two week high of $76.97. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.3%. NIKE’s payout ratio is presently 78.47%.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).