TD Asset Management Inc. raised its holdings in shares of Nike Inc (NYSE:NKE) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,445,346 shares of the footwear maker’s stock after buying an additional 104,263 shares during the quarter. TD Asset Management Inc.’s holdings in Nike were worth $205,287,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of NKE. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Nike in the 1st quarter valued at about $25,000. Shamrock Asset Management LLC bought a new stake in shares of Nike in the 1st quarter valued at about $25,000. Thor Advisors LLC bought a new stake in shares of Nike in the 1st quarter valued at about $26,000. Mackey Komara & Dankovich LLC bought a new stake in shares of Nike in the 1st quarter valued at about $30,000. Finally, Hexavest Inc. bought a new stake in shares of Nike in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 66.15% of the company’s stock.
In other Nike news, CAO Hilary K. Krane sold 17,903 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $88.70, for a total transaction of $1,587,996.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $85.26, for a total value of $9,378,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 194,637 shares of company stock worth $16,767,237 in the last quarter. Company insiders own 3.80% of the company’s stock.
Shares of NKE stock traded up $1.67 during midday trading on Tuesday, reaching $83.32. 6,267,047 shares of the stock were exchanged, compared to its average volume of 5,893,064. Nike Inc has a 1 year low of $66.53 and a 1 year high of $90.00. The company has a 50 day simple moving average of $85.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.10. The firm has a market cap of $128.45 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 2.17 and a beta of 0.78.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). Nike had a return on equity of 45.12% and a net margin of 10.30%. The firm had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter last year, the company posted $0.69 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, research analysts forecast that Nike Inc will post 2.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.06%. Nike’s dividend payout ratio (DPR) is 35.34%.
A number of research firms have recently weighed in on NKE. Stifel Nicolaus set a $96.00 target price on Nike and gave the company a “buy” rating in a research note on Wednesday, August 7th. Credit Suisse Group reissued a “buy” rating and issued a $97.00 target price on shares of Nike in a research note on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on Nike from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Bank of America raised Nike to an “underperform” rating and boosted their target price for the company from $60.00 to $70.00 in a research note on Monday, June 24th. Finally, UBS Group set a $85.00 target price on Nike and gave the company a “neutral” rating in a research note on Monday, June 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $90.02.
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.
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