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, Holdings Channel reports. The firm owned 481,585 shares of the footwear maker’s stock after selling 111,201 shares during the period. TD Asset Management Inc’s holdings in NIKE were worth $19,769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Main Street Financial Solutions LLC boosted its holdings in NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after buying an additional 139 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of NIKE by 4.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after buying an additional 163 shares in the last quarter. ANB Bank lifted its position in shares of NIKE by 0.7% during the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock valued at $1,621,000 after acquiring an additional 165 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of NIKE by 4.4% during the 4th 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 last quarter. Finally, Caldwell Sutter Capital Inc. boosted its stake in shares of NIKE by 7.6% during the 4th quarter. Caldwell Sutter Capital Inc. now owns 2,402 shares of the footwear maker’s stock worth $153,000 after acquiring an additional 170 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

NKE stock opened at $40.73 on Friday. The firm has a 50 day simple moving average of $42.90 and a 200 day simple moving average of $48.73. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17. The stock has a market cap of $60.42 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.83 and a beta of 1.11. 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 released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. During the same quarter in the prior year, the business earned $0.14 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts anticipate that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed 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. This represents a $1.64 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is currently 78.47%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NKE shares. Bank of America decreased their target price on NIKE from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Berenberg Bank set a $49.00 price target on NIKE and gave the company a “hold” rating in a research report on Friday, July 3rd. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Evercore set a $46.00 price objective on NIKE and gave the stock an “in-line” rating in a report on Tuesday, June 23rd. Finally, Jefferies Financial Group decreased their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have assigned a Hold rating and five have given a Sell rating to the company. According to 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, CFO Matthew Friend sold 2,463 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $102,460.80. Following the transaction, the chief financial officer directly owned 82,165 shares of the company’s stock, valued at $3,418,064. This represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.05, for a total value of $204,657.35. Following the sale, the insider owned 57,436 shares of the company’s stock, valued at approximately $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,142 shares of company stock worth $1,169,380 in the last ninety days. Company insiders own 1.10% of the company’s stock.

About NIKE

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).