Tdam USA Inc. cut its stake in shares of Nike Inc (NYSE:NKE) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,653 shares of the footwear maker’s stock after selling 751 shares during the quarter. Tdam USA Inc.’s holdings in Nike were worth $2,238,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Nike by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,507,942 shares of the footwear maker’s stock worth $260,074,000 after buying an additional 69,032 shares during the period. NuWave Investment Management LLC acquired a new position in shares of Nike during the first quarter worth approximately $585,000. Gradient Investments LLC boosted its position in shares of Nike by 341.2% during the first quarter. Gradient Investments LLC now owns 3,918 shares of the footwear maker’s stock worth $330,000 after buying an additional 3,030 shares during the period. Nachman Norwood & Parrott Inc lifted its position in Nike by 9.5% in the first quarter. Nachman Norwood & Parrott Inc now owns 3,978 shares of the footwear maker’s stock worth $336,000 after purchasing an additional 345 shares during the period. Finally, Calamos Advisors LLC lifted its position in Nike by 0.5% in the first quarter. Calamos Advisors LLC now owns 491,061 shares of the footwear maker’s stock worth $41,352,000 after purchasing an additional 2,368 shares during the period. 66.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE NKE traded down $2.29 during trading on Wednesday, hitting $81.03. The company had a trading volume of 374,268 shares, compared to its average volume of 6,503,665. The company has a market cap of $128.45 billion, a P/E ratio of 32.62, a P/E/G ratio of 2.17 and a beta of 0.78. Nike Inc has a 52 week low of $66.53 and a 52 week high of $90.00. The firm has a 50-day moving average of $85.37. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.10.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Friday, August 30th. Nike’s dividend payout ratio (DPR) is currently 35.34%.
In other Nike news, insider Elliott Hill sold 34,100 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total transaction of $3,012,394.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elizabeth J. Comstock sold 24,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the sale, the director now directly owns 38,813 shares in the company, valued at $3,292,894.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,637 shares of company stock worth $16,767,237. Company insiders own 3.80% of the company’s stock.
A number of equities research analysts have weighed in on the company. Macquarie set a $89.00 target price on Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. Piper Jaffray Companies set a $97.00 target price on Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. upped their target price on Nike from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Canaccord Genuity restated a “buy” rating and issued a $96.00 target price on shares of Nike in a research report on Wednesday, June 19th. Finally, Pivotal Research set a $101.00 target price on Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $90.02.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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