NIKE, Inc. $NKE Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its holdings in NIKE, Inc. (NYSE:NKE) by 18.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 481,585 shares of the footwear maker’s stock after selling 111,201 shares during the quarter. TD Asset Management Inc’s holdings in NIKE were worth $19,769,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NKE. Main Street Financial Solutions LLC grew its position in shares of NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after buying an additional 139 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in NIKE by 4.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after acquiring an additional 163 shares during the last quarter. ANB Bank lifted its holdings in NIKE by 0.7% in the fourth quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after acquiring an additional 165 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in NIKE by 4.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 3,970 shares of the footwear maker’s stock valued at $253,000 after acquiring an additional 169 shares during the period. Finally, Caldwell Sutter Capital Inc. boosted its stake in NIKE by 7.6% in the fourth quarter. Caldwell Sutter Capital Inc. now owns 2,402 shares of the footwear maker’s stock valued at $153,000 after acquiring an additional 170 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Rothschild & Co Redburn dropped their price target on NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a research report on Friday, July 17th. Citigroup restated a “neutral” rating on shares of NIKE in a research note on Wednesday, July 22nd. BTIG Research reaffirmed a “buy” rating and issued a $55.00 target price on shares of NIKE in a research report on Wednesday, July 1st. China Renaissance cut their target price on NIKE from $50.30 to $47.30 and set a “hold” rating on the stock in a research note on Thursday, July 2nd. Finally, BNP Paribas Exane reissued an “underperform” rating on shares of NIKE in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $53.53.

Insider Transactions at NIKE

In other NIKE news, insider Amy Montagne sold 4,867 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 57,436 shares in the company, valued at $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 26,142 shares of company stock worth $1,169,380 in the last three months. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NKE opened at $40.73 on Friday. NIKE, Inc. has a one year low of $40.00 and a one year high of $80.17. The firm has a market capitalization of $60.42 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The stock’s fifty day moving average is $42.90 and its 200-day moving average is $48.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 EPS. Equities analysts anticipate that NIKE, Inc. will post 1.74 EPS for the current 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 issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 annualized dividend and a yield of 4.0%. 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).