TIAA Trust National Association Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

TIAA Trust National Association decreased its holdings in NIKE, Inc. (NYSE:NKE) by 7.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,536 shares of the footwear maker’s stock after selling 4,614 shares during the period. TIAA Trust National Association’s holdings in NIKE were worth $4,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Annapolis Financial Services LLC boosted its position in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the period. True Wealth Design LLC raised its stake in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Core Wealth Advisors Inc. boosted its holdings in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Frank Rimerman Advisors LLC bought a new position in NIKE in the fourth quarter worth approximately $33,000. Finally, Gold Investment Management Ltd. purchased a new position in NIKE during the 4th quarter worth $36,000. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NKE. Jefferies Financial Group dropped their price target on NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Wedbush dropped their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Bank of America lowered their target price on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price target (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Finally, Robert W. Baird reduced their price target on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.59.

NIKE Stock Down 0.4 %

NYSE:NKE opened at $81.02 on Thursday. The firm has a market capitalization of $122.29 billion, a P/E ratio of 21.72, a PEG ratio of 2.19 and a beta of 1.01. The company’s fifty day moving average price is $77.10 and its 200-day moving average price is $89.00. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the business posted $0.66 EPS. The company’s revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.83%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% 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.