TIAA Trust National Association Sells 118,892 Shares of NIKE, Inc. (NYSE:NKE)

TIAA Trust National Association lowered its position in NIKE, Inc. (NYSE:NKE) by 66.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,150 shares of the footwear maker’s stock after selling 118,892 shares during the quarter. TIAA Trust National Association’s holdings in NIKE were worth $5,559,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NKE. Norges Bank bought a new position in shares of NIKE in the fourth quarter worth $1,315,097,000. Price T Rowe Associates Inc. MD increased its stake in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the last quarter. Capital International Investors increased its stake in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Jennison Associates LLC increased its stake in NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in NIKE by 13,094.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock valued at $169,722,000 after acquiring an additional 1,551,405 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research analyst reports. TD Cowen reduced their target price on NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Wedbush reduced their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Robert W. Baird reduced their target price on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. BMO Capital Markets reduced their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, UBS Group restated a “neutral” rating and set a $78.00 price target on shares of NIKE in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Hold” and an average target price of $96.44.

NIKE Trading Up 0.4 %

NKE stock traded up $0.32 during trading on Friday, reaching $72.70. The company had a trading volume of 11,913,319 shares, compared to its average volume of 23,921,236. NIKE, Inc. has a 52 week low of $71.24 and a 52 week high of $123.39. The company has a market cap of $109.73 billion, a P/E ratio of 19.49, a PEG ratio of 1.89 and a beta of 1.01. The business has a 50 day moving average of $87.46 and a 200 day moving average of $94.75. 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 results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. NIKE’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price 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 of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Holmes Swan purchased 2,941 shares of NIKE 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 transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders sold a total of 213,660 shares of company stock valued at $19,946,333 over the last three months. Corporate insiders own 0.50% of the company’s stock.

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.