NIKE, Inc. (NYSE:NKE) Shares Sold by TIAA Trust National Association

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

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elgethun Capital Management grew its position in NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after buying an additional 149 shares during the period. AlTi Global Inc. grew its position in NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after buying an additional 150 shares during the period. Cohen & Steers Inc. grew its position in NIKE by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock valued at $240,000 after buying an additional 160 shares during the period. Peregrine Asset Advisers Inc. grew its position in NIKE by 1.2% during the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock valued at $934,000 after buying an additional 181 shares during the period. Finally, Aaron Wealth Advisors LLC grew its position in NIKE by 4.3% during the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock valued at $296,000 after buying an additional 192 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Price Performance

Shares of NKE opened at $74.61 on Monday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The stock has a market cap of $110.19 billion, a PE ratio of 34.54, a P/E/G ratio of 2.71 and a beta of 1.27. The firm has a 50-day simple moving average of $68.36 and a two-hundred day simple moving average of $67.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results 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. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same period last year, the business earned $0.99 earnings per share. The business's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on NKE. Wall Street Zen lowered shares of NIKE from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective on the stock. in a report on Thursday, July 10th. Bank of America raised their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, June 20th. One research 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 company's stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

Insider Buying and Selling at NIKE

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

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