TD Private Client Wealth LLC Sells 1,497 Shares of NIKE, Inc. (NYSE:NKE)

TD Private Client Wealth LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 18.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,821 shares of the footwear maker’s stock after selling 1,497 shares during the period. TD Private Client Wealth LLC’s holdings in NIKE were worth $516,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. raised its stake in NIKE by 36.2% in the third quarter. Eagle Asset Management Inc. now owns 16,698 shares of the footwear maker’s stock valued at $1,476,000 after purchasing an additional 4,440 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of NIKE in the 3rd quarter worth $261,000. Great Valley Advisor Group Inc. raised its position in shares of NIKE by 4.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 11,409 shares of the footwear maker’s stock valued at $1,009,000 after buying an additional 532 shares in the last quarter. Swedbank AB lifted its holdings in shares of NIKE by 1.2% during the 3rd quarter. Swedbank AB now owns 980,660 shares of the footwear maker’s stock worth $86,690,000 after acquiring an additional 11,877 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in NIKE by 121.7% in the third quarter. Larson Financial Group LLC now owns 11,377 shares of the footwear maker’s stock worth $1,006,000 after acquiring an additional 6,246 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research report on Friday. UBS Group decreased their price objective on NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday. Truist Financial cut their target price on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Friday. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $87.38.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

NIKE stock opened at $67.45 on Tuesday. NIKE, Inc. has a fifty-two week low of $65.17 and a fifty-two week high of $98.04. The stock’s 50 day simple moving average is $74.61 and its two-hundred day simple moving average is $77.31. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market cap of $99.76 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.37%. NIKE’s payout ratio is 53.16%.

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.