Scotia Capital Inc. Decreases Stake in NIKE, Inc. $NKE

Scotia Capital Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 35.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 276,138 shares of the footwear maker’s stock after selling 152,446 shares during the quarter. Scotia Capital Inc.’s holdings in NIKE were worth $19,616,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in NIKE by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock worth $8,086,042,000 after purchasing an additional 672,705 shares during the last quarter. Wellington Management Group LLP grew its position in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Flossbach Von Storch SE increased its stake in shares of NIKE by 9.5% in the second quarter. Flossbach Von Storch SE now owns 11,265,390 shares of the footwear maker’s stock worth $800,293,000 after buying an additional 978,771 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in NIKE by 4.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 9,951,767 shares of the footwear maker’s stock valued at $707,550,000 after acquiring an additional 444,517 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the transaction, the chairman owned 647,615 shares in the company, valued at approximately $41,965,452. This represents a 11.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the acquisition, the director owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. The trade was a 308.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $64.84 on Friday. The company has a market cap of $95.84 billion, a P/E ratio of 33.25, a PEG ratio of 2.41 and a beta of 1.29. The business has a 50 day moving average of $66.53 and a two-hundred day moving average of $69.00. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the business posted $0.70 EPS. The business’s revenue was up 1.0% on a year-over-year basis. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a dividend of $0.41 per share. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, December 1st. NIKE’s payout ratio is currently 84.10%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $78.00 price objective on shares of NIKE in a report on Wednesday, October 1st. BTIG Research started coverage on NIKE in a research note on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price target for the company. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Stifel Nicolaus set a $68.00 target price on NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group set a $85.00 target price on NIKE and gave the stock a “buy” rating in a research report on Thursday, September 25th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.24.

About NIKE

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.