TD Private Client Wealth LLC Sells 2,720 Shares of NIKE, Inc. (NYSE:NKE)

TD Private Client Wealth LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 24.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,318 shares of the footwear maker’s stock after selling 2,720 shares during the quarter. TD Private Client Wealth LLC’s holdings in NIKE were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. ING Groep NV purchased a new position in NIKE in the third quarter worth about $29,628,000. Cordatus Wealth Management LLC lifted its stake in shares of NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after purchasing an additional 6,778 shares during the period. Bristlecone Advisors LLC boosted its holdings in shares of NIKE by 14.3% in the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after buying an additional 11,665 shares during the last quarter. Coldstream Capital Management Inc. grew its position in NIKE by 62.3% during the third quarter. Coldstream Capital Management Inc. now owns 121,279 shares of the footwear maker’s stock valued at $10,347,000 after buying an additional 46,567 shares during the period. Finally, Investment Management Corp of Ontario increased its holdings in NIKE by 49.4% during the third quarter. Investment Management Corp of Ontario now owns 40,238 shares of the footwear maker’s stock valued at $3,557,000 after buying an additional 13,300 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NKE shares. Wells Fargo & Company boosted their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Needham & Company LLC assumed coverage on NIKE in a report on Friday, November 22nd. They set a “buy” rating and a $84.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Telsey Advisory Group cut their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.04.

NIKE Price Performance

NKE stock opened at $77.25 on Friday. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a market capitalization of $115.83 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. The company has a fifty day simple moving average of $78.52 and a two-hundred day simple moving average of $81.21. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the firm earned $0.94 EPS. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 45.85%.

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.