TD Asset Management Inc Sells 6,038 Shares of NIKE, Inc. (NYSE:NKE)

TD Asset Management Inc reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.0% in the first quarter, HoldingsChannel.com reports. The fund owned 624,367 shares of the footwear maker’s stock after selling 6,038 shares during the quarter. TD Asset Management Inc’s holdings in NIKE were worth $39,635,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NKE. Wellington Management Group LLP lifted its holdings in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of NIKE during the 1st quarter worth $509,051,000. Renaissance Technologies LLC lifted its holdings in shares of NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after acquiring an additional 2,416,601 shares during the last quarter. Capital World Investors lifted its holdings in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares during the last quarter. Finally, Flossbach Von Storch SE lifted its holdings in shares of NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after acquiring an additional 1,988,547 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is owned by insiders.

NIKE Price Performance

Shares of NYSE NKE opened at $79.27 on Tuesday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company’s 50-day moving average is $67.15 and its 200 day moving average is $67.35. The stock has a market capitalization of $117.07 billion, a P/E ratio of 36.70, a P/E/G ratio of 2.80 and a beta of 1.25.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. NIKE’s quarterly revenue was down 11.9% on a year-over-year basis. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, June 2nd. NIKE’s dividend payout ratio is currently 74.07%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of analyst reports. Bank of America lifted their target price on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Citigroup lifted their target price on shares of NIKE from $57.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, June 27th. Piper Sandler lifted their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, June 27th. Morgan Stanley lifted their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group lifted their target price on shares of NIKE from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.22.

NIKE Company Profile

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.