TIAA Trust National Association Has $2.89 Million Position in NIKE, Inc. (NYSE:NKE)

Key Points

• TIAA Trust National Association reduced its holdings in NIKE, Inc. by 38.9%, now holding 45,549 shares worth approximately $2.9 million as of its latest SEC filing.
• NIKE reported $0.14 EPS for the last quarter, surpassing analysts' expectations of $0.12, but revenue declined by 11.9% year-over-year at $11.10 billion.
• Analysts' ratings for NIKE show a consensus of "Moderate Buy", with nine firms issuing a buy rating and one a sell rating.

TIAA Trust National Association cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 38.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,549 shares of the footwear maker's stock after selling 28,989 shares during the period. TIAA Trust National Association's holdings in NIKE were worth $2,891,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Jennison Associates LLC bought a new position in NIKE during the first quarter worth about $509,051,000. Renaissance Technologies LLC raised its stake in shares of NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the period. Capital World Investors raised its stake in shares of NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares during the period. Flossbach Von Storch SE raised its stake in shares of NIKE by 24.0% in the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after purchasing an additional 1,988,547 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of NIKE by 183.9% in the 4th quarter. Toronto Dominion Bank now owns 2,996,972 shares of the footwear maker's stock valued at $226,779,000 after purchasing an additional 1,941,375 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Down 0.4%

Shares of NIKE stock traded down $0.27 on Friday, hitting $74.09. The stock had a trading volume of 4,851,186 shares, compared to its average volume of 17,153,582. The firm has a market capitalization of $109.42 billion, a P/E ratio of 34.36, a PEG ratio of 2.74 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The stock has a 50 day moving average of $69.43 and a 200 day moving average of $67.63. 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 (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE's payout ratio is 74.07%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on NKE. Royal Bank Of Canada dropped their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday, June 27th. Citigroup lifted their price target on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Barclays lifted their price target on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Finally, Argus raised NIKE to a "buy" rating in a research note on Sunday, July 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $78.22.

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.