TD Asset Management Inc. Has $205.29 Million Position in Nike Inc (NYSE:NKE)
TD Asset Management Inc. increased its holdings in shares of Nike Inc (NYSE:NKE) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,445,346 shares of the footwear maker’s stock after acquiring an additional 104,263 shares during the quarter. TD Asset Management Inc. owned about 0.16% of Nike worth $205,287,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Joseph P. Lucia & Associates LLC acquired a new position in shares of Nike during the 1st quarter worth approximately $25,000. Shamrock Asset Management LLC acquired a new position in Nike in the 1st quarter valued at $25,000. Jackson Grant Investment Advisers Inc. acquired a new position in Nike in the 1st quarter valued at $25,000. Thor Advisors LLC acquired a new position in Nike in the 1st quarter valued at $26,000. Finally, Mackey Komara & Dankovich LLC acquired a new position in Nike in the 1st quarter valued at $30,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on NKE shares. Pivotal Research set a $101.00 price objective on Nike and gave the company a “buy” rating in a report on Friday, June 28th. Deutsche Bank set a $100.00 price objective on Nike and gave the company a “buy” rating in a report on Wednesday, July 10th. UBS Group set a $85.00 price objective on Nike and gave the company a “neutral” rating in a report on Monday, June 17th. Goldman Sachs Group set a $83.00 price objective on Nike and gave the company a “neutral” rating in a report on Monday, July 1st. Finally, Stifel Nicolaus set a $96.00 price objective on Nike and gave the company a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $90.02.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). The firm had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. Nike’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. As a group, analysts anticipate that Nike Inc will post 2.9 EPS for the current fiscal year.
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 given a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 annualized dividend and a yield of 1.06%. Nike’s dividend payout ratio is presently 35.34%.
In other news, CAO Hilary K. Krane sold 17,903 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $88.70, for a total value of $1,587,996.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth J. Comstock sold 24,000 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total value of $2,036,160.00. Following the completion of the sale, the director now directly owns 38,813 shares of the company’s stock, valued at approximately $3,292,894.92. The disclosure for this sale can be found here. Insiders sold 194,637 shares of company stock valued at $16,767,237 over the last quarter. Corporate insiders own 3.80% of the company’s stock.
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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