Raymond James Trust N.A. Has $4 Million Stake in Nike Inc (NKE)

Raymond James Trust N.A. decreased its holdings in shares of Nike Inc (NYSE:NKE) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,157 shares of the footwear maker’s stock after selling 5,491 shares during the quarter. Raymond James Trust N.A.’s holdings in Nike were worth $3,995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dupont Capital Management Corp grew its holdings in Nike by 179.8% during the 2nd quarter. Dupont Capital Management Corp now owns 26,904 shares of the footwear maker’s stock valued at $2,144,000 after buying an additional 17,289 shares in the last quarter. Alps Advisors Inc. grew its holdings in Nike by 12.3% during the 2nd quarter. Alps Advisors Inc. now owns 10,937 shares of the footwear maker’s stock valued at $684,000 after buying an additional 1,197 shares in the last quarter. TD Asset Management Inc. grew its holdings in Nike by 9.0% during the 2nd quarter. TD Asset Management Inc. now owns 2,112,939 shares of the footwear maker’s stock valued at $168,359,000 after buying an additional 173,591 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in Nike by 184.5% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 37,927 shares of the footwear maker’s stock valued at $3,022,000 after buying an additional 24,595 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in Nike by 5,819.4% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 589,693 shares of the footwear maker’s stock valued at $46,987,000 after buying an additional 579,731 shares in the last quarter. Institutional investors own 64.72% of the company’s stock.

In related news, EVP Monique S. Matheson sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $85.00, for a total transaction of $1,445,000.00. Following the completion of the sale, the executive vice president now directly owns 104,737 shares of the company’s stock, valued at approximately $8,902,645. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total value of $1,360,800.00. Following the sale, the director now directly owns 26,963 shares of the company’s stock, valued at $2,293,203.15. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $4,219,350 over the last three months. 3.90% of the stock is owned by corporate insiders.

NYSE:NKE opened at $75.12 on Friday. The company has a market capitalization of $118.06 billion, a PE ratio of 31.04, a P/E/G ratio of 2.32 and a beta of 0.77. Nike Inc has a 1 year low of $59.24 and a 1 year high of $86.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53.

Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.92 billion. Nike had a return on equity of 40.69% and a net margin of 5.57%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. Research analysts expect that Nike Inc will post 2.62 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a dividend of $0.22 per share. This is a positive change from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, November 30th. Nike’s dividend payout ratio (DPR) is currently 33.06%.

Several research firms have weighed in on NKE. Bank of America restated a “sell” rating and set a $50.00 price target on shares of Nike in a report on Friday, September 21st. Stifel Nicolaus raised their price target on Nike from $90.00 to $96.00 and gave the company a “buy” rating in a report on Monday, September 24th. Goldman Sachs Group set a $81.00 price target on Nike and gave the company a “buy” rating in a report on Thursday, September 20th. Pivotal Research set a $85.00 price target on Nike and gave the company a “hold” rating in a report on Friday, September 21st. Finally, Barclays raised their price target on Nike to $100.00 and gave the company an “overweight” rating in a report on Friday, September 21st. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $85.74.

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Nike Company Profile

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.

Further Reading: Stock Selection – What is cash flow?

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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