Toronto Dominion Bank Acquires 33,755 Shares of Nike Inc. (NKE)
Toronto Dominion Bank increased its position in shares of Nike Inc. (NYSE:NKE) by 436.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 41,486 shares of the footwear maker’s stock after buying an additional 33,755 shares during the period. Toronto Dominion Bank’s holdings in Nike were worth $2,184,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Capstone Asset Management Co. boosted its stake in shares of Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock valued at $21,220,000 after buying an additional 29,538 shares during the last quarter. Dividend Assets Capital LLC boosted its stake in shares of Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock valued at $94,538,000 after buying an additional 43,935 shares during the last quarter. Carmignac Gestion acquired a new stake in shares of Nike during the second quarter valued at approximately $116,633,000. BNP Paribas Arbitrage SA boosted its stake in shares of Nike by 8.3% in the third quarter. BNP Paribas Arbitrage SA now owns 892,711 shares of the footwear maker’s stock valued at $47,001,000 after buying an additional 68,221 shares during the last quarter. Finally, Bath Savings Trust Co boosted its stake in shares of Nike by 2.5% in the third quarter. Bath Savings Trust Co now owns 207,596 shares of the footwear maker’s stock valued at $10,930,000 after buying an additional 5,072 shares during the last quarter. Hedge funds and other institutional investors own 61.15% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded down 0.74% during midday trading on Tuesday, reaching $50.63. The company had a trading volume of 6,065,682 shares. The company has a market capitalization of $84.32 billion, a PE ratio of 22.85 and a beta of 0.48. Nike Inc. has a one year low of $49.01 and a one year high of $68.19. The company has a 50 day moving average of $51.15 and a 200 day moving average of $54.58.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The business earned $9.06 billion during the quarter. During the same period last year, the company posted $1.34 earnings per share. Nike’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts predict that Nike Inc. will post $2.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 5th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.42%. This is a positive change from Nike’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, December 1st. Nike’s dividend payout ratio is 28.83%.
Several analysts have recently commented on the company. Vetr cut Nike from a “strong-buy” rating to a “buy” rating and set a $55.62 target price on the stock. in a report on Wednesday, November 16th. Credit Suisse Group AG set a $60.00 target price on Nike and gave the stock a “buy” rating in a report on Friday, November 11th. Barclays PLC reiterated an “overweight” rating and issued a $65.00 price target on shares of Nike in a report on Friday, November 11th. Brean Capital reiterated a “hold” rating on shares of Nike in a report on Wednesday, November 9th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and issued a $53.00 price target on shares of Nike in a report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $63.43.
In related news, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was purchased at an average cost of $52.72 per share, with a total value of $52,720.00. Following the completion of the acquisition, the director now directly owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $49.78, for a total value of $7,467,000.00. Following the completion of the transaction, the chairman now directly owns 1,985,225 shares of the company’s stock, valued at $98,824,500.50. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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