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

TD Asset Management Inc decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 quarter.

Several other large investors have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC lifted its position in NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after acquiring an additional 347,178 shares in the last quarter. Capital World Investors lifted its position in 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 acquiring an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp lifted its position in NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after acquiring an additional 620,214 shares in the last quarter. Finally, Northern Trust Corp lifted its position in NIKE by 8.8% in the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock valued at $1,111,625,000 after acquiring an additional 1,183,641 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Stock Up 3.9%

NKE opened at $79.27 on Tuesday. The company has a 50 day moving average of $67.15 and a 200 day moving average of $67.35. The company has a market cap of $117.07 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the firm earned $0.99 EPS. NIKE's revenue for the quarter was down 11.9% on a year-over-year basis. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's payout ratio is 74.07%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction 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 directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on NKE. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Williams Trading decreased their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Piper Sandler increased their price objective on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. DZ Bank lowered shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group increased their price objective on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE 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.

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