TD Private Client Wealth LLC Sells 3,514 Shares of NIKE, Inc. $NKE

TD Private Client Wealth LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 48.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,674 shares of the footwear maker’s stock after selling 3,514 shares during the quarter. TD Private Client Wealth LLC’s holdings in NIKE were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP increased its holdings in NIKE by 24.9% in 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 purchasing an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in NIKE by 344.2% in 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 purchasing an additional 20,688,013 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after purchasing an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE increased its holdings in NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after purchasing an additional 1,988,547 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on NKE. Evercore ISI decreased their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. The Goldman Sachs Group set a $85.00 target price on NIKE and gave the company a “buy” rating in a research report on Thursday. Piper Sandler lifted their target price on NIKE from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, June 27th. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and lifted their target price for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Finally, Bank of America lifted their target price on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $79.62.

NIKE Stock Performance

NYSE:NKE opened at $69.31 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.26. The firm has a market cap of $102.36 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.53 and a beta of 1.24. The business’s fifty day moving average is $74.99 and its 200 day moving average is $67.26.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the previous year, the company posted $0.99 EPS. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE’s payout ratio is presently 74.07%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.80% of the company’s stock.

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.